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South: Pre-Sale Slimdown

By Anonymous
Publication: NJBIZ
Date: Monday, September 25 2006

BLACKWOOD Before it goes private in a management-supported buyout, Metrologic Instruments (Nasdaq: MTLG) in Blackwood has agreed to sell its Adaptive Optics Associates subsidiary for $40.25 million in cash to Essex Corp. in Columbia, Md. Metrologic is a maker of bar-code and other hand-held scanning

devices and software. Adaptive Optics Associates designs and manufacturers electro-optic products for government and industrial users. Essex offerings include provides information-processing and cyber-securiry solutions for intelligence and defense clients. The deal is expected to close by Oct. 1.

Early this month the company agreed to be acquired for $420 million in cash by an investor group led by private equity fund Francisco Partners of Menlo Park, Calif. M?trologie founder and CEO C. Harry Knowles and hedge-fund Elliott Associates are participating in the buyout.

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