Belden Enters Into a Definitive Agreement to Acquire Miranda Technologies for C$17.00 Per Share

Belden Inc. (BDC), a global leader in signal transmission solutions for mission-critical applications, today announced it has entered into a definitive agreement (“Support Agreement”) to make an all-cash offer to acquire Miranda Technologies Inc. (MT.TO) for C$17.00 per share (“Offer”).

Highlights
    Combined company would be a clear leader in the broadcast market for networking, connectivity, and cable solutions;
    The acquisition increases the percentage of Belden’s revenue from networking and connectivity products from 30% to 36%;
    All-cash offer provides immediate value for Miranda shareholders; and
    Offer is not subject to any financing contingency.

Teledyne Technologies to Acquire LeCroy Corporation

Teledyne Technologies Incorporated (TDY) (“Teledyne”) and LeCroy Corporation (LCRY) (“LeCroy”) jointly announced today that they have entered into a definitive agreement that provides for the merger of LeCroy Corporation with a wholly-owned subsidiary of Teledyne. Pursuant to the transaction, Teledyne will acquire all of the outstanding common shares of LeCroy for $14.30 per share payable in cash. The aggregate value for the transaction is approximately $291 million, taking into account LeCroy’s stock options, stock appreciation rights and net debt as of March 31, 2012. The transaction was unanimously approved by the Boards of Directors of Teledyne and LeCroy. In addition, LeCroy directors and executive officers, including founder Walter LeCroy, have agreed to vote their shares in favor of the transaction.

Tii Network Technologies Reports First Quarter 2012 Results

Tii Network Technologies, Inc. (TIII), a leader in designing, manufacturing and marketing network products for the communications industry, today reported results of operations for the three months ended March 31, 2012. 

Net sales for the three months ended March 31, 2012 were $12,926,000 compared to $14,976,000 for the comparable prior year period, a decrease of $2,050,000 or 13.7%.  The sales decrease was primarily due to a decrease in sales for the Porta Copper Products Division partially offset by increased sales of core business products and increased Tii Fiber Division sales of $520,000.  Tii Fiber is a business acquired during the end of the first quarter of 2011 and contributed $136,000 to sales in the three months ended March 31, 2011.

Aware, Inc. Declares Special Cash Dividend of $1.15 Per Share, or Approximately $24 Million in Total

Aware, Inc. (AWRE), a leading supplier of biometrics software and DSL service assurance products, today announced that its Board of Directors has declared a special cash dividend of $1.15 per share, or approximately $24 million in total.  The special dividend will be paid on May 25, 2012 to shareholders of record as of May 11, 2012.

The Board of Directors has determined that the company's current cash balances exceed our capital requirements and has decided to return cash to shareholders.