Cogo Group, Inc. (COGO) to Complete Acquisition Next Quarter
Cogo Group, Inc., a leading provider of customized module and subsystem design solutions in China, announced that it intends to acquire certain businesses of MDC Tech, Inc. The businesses will be merged into Cogo's existing Industrials business, which is currently the company's fastest growing business segment. A technology solutions and engineering services company with most of its operations in China, MDC Tech focuses on two of the fastest growing industrial markets in China: the Smart Grid roll-out and Medical Equipment. Anticipated to close in the first quarter of 2011, the deal will likely be an all-cash transaction of $22 million…