AML Communications Signs Letter of Intent to Acquire Controlling Interest in Mica-Tech, Inc. ( BusinessWire )
CAMARILLO, Calif., Mar 07, 2007 (BUSINESS WIRE) -- AML Communications, Inc. (OTCBB:AMLJ) announced today that it entered into a letter of intent to acquire a controlling position in Mica-Tech, Inc. in a cash-for-stock transaction. Under the terms of the agreement AML will purchase 51% of Mica-Tech's outstanding stock for $800,000. The acquisition is subject to negotiation of a definitive agreement.
Mica-Tech is a privately held corporation that designs, manufactures, and markets an intelligent satellite communication system that provides Supervisory Control And Data Acquisition (SCADA) of the electric power grid. Mica-Tech has successfully deployed its products with a leading utility company. Penetration into the country-wide utility companies market is in initial phases. The company website is located at http://www.mica-tech.com.
AML Communications is a designer, manufacturer and marketer of amplifiers and integrated assemblies that address the Defense Microwave markets. The Company's Web site is located at http://www.amlj.com.
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