July 12, 2011: Servidyne Agrees to Be Acquired by Scientific Conservation
July 12, 2011
ATLANTA - Servidyne Inc. announced that it has entered into an agreement to be acquired by Scientific Conservation Inc. (SCI) for $3.50 per share in an all-cash transaction. Servidyne, headquartered in Atlanta, provides energy efficiency and demand response solutions. SCI is a leading provider of energy efficiency solutions via predictive diagnostics and analytics for the commercial building market. The company is headquartered in San Francisco with its technology center in Atlanta.
The acquisition is subject to Servidyne shareholder approvals and other customary closing conditions, and is currently expected to be completed in Servidyne’s second fiscal quarter ending Oct. 31, 2011. Following the sale, Servidyne will no longer be a publicly-traded company, and its shares will cease to be traded on the NASDAQ Global Market.
“We are pleased that this agreement recognizes the value of Servidyne’s expertise, relationships, technologies, and solutions, while providing our stockholders with an attractive cash premium for their investment,” said Alan R. Abrams, chairman and CEO of Servidyne.
According to the companies, Servidyne and SCI offer leading engineering and technology expertise in energy efficiency, demand response, building maintenance management, and building controls. The acquisition is expected to strengthen and enhance customer value.
For more information about Servidyne, visit www.servidyne.com. For more information About Scientific Conservation Inc., visit www.scientificconservation.com.
Publication date: 07/11/2011