July 12, 2011: Servidyne Agrees to Be Acquired by Scientific Conservation
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