Shares of Cyalume Technologies Holdings, Inc. (OTCQB:CYLU) are soaring today on news that the company is signing a definitive agreement and plan of merger, pursuant to which Cyalume will be acquired by an affiliate of Arsenal Capital Partners in an all-cash transaction, valued at $45 million.
Zivi Nedivi, Cyalume President and CEO, commented "We are very pleased to announce this transaction with Arsenal, as we believe it affords us the opportunity to both deliver a return to many of our various stake holders that have supported Cyalume over the past several years and positions the Company for continued growth and future success."
Cyalume produces specialty chemicals, pharmaceutical components, designs and manufactures unique related products and does sub-contract manufacturing of components for use in pharmaceutical, medical, commercial and military markets. Arsenal Capital Partners is a leading New York based private equity firm that specializes in investments in middle market specialty industrials and health-care companies.
Investors seem to love the news with shares of CYLU jolting higher by over 25% in morning trading with the stock currently trading at $0.188 per share.
