Derycz Scientific, Inc. (DYSC.OB) Signs Agreement to Acquire Techniques Appliquees aux Arts Graphiques, S.p.A.
Yesterday, Derycz Scientific, Inc. announced that they signed an agreement to acquire Techniques Appliquees aux Arts Graphiques, S.p.A. (TAAG) for 368,000 shares of Derycz common stock in addition to an earn-out. Upon the acquisition of TAAG, Derycz will expand their European customer base as well as their presence in Europe. The transaction, based on the unaudited financial statements of TAAG, is expected to increase Derycz Scientific, Inc.'s annual consolidated revenues by over 50 percent. TAAG is a privately held company with headquarters outside Paris, France. The expectation is that the closing will occur on March 31, 2011. Under the terms…