AML Communications Inc. announced 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 percent 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 web site is located at 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 www.amlj.com.