11:47 AM EST - Mitec Telecom Inc. : said that it has entered into a letter of intent to purchase all of the issued and outstanding shares of a privately-held North American company, which provides wireless hardware components to major telecom equipment providers worldwide. Mitec said the acquisition is expected to increase its wireless revenues substantially and provide synergies to help it achieve long-term profitability. The deal is expected to close in Fall 2009. Mitec Telecom Inc.
shares T.MTM are trading even at $0.07.
