latest news releases from the newsroom
Orion Energy Systems, Inc.
Orion Energy Systems, Inc. Announces Underwriters' Exercise of Over-Allotment Option and Completion of Initial Public Offering of Common Stock
PLYMOUTH, Wis., Dec. 24, 2007 (PRIME NEWSWIRE) -- Orion Energy Systems, Inc. (Nasdaq:OESX) announced today that it completed its initial public offering of 8,846,154 shares of common stock at $13.00 per share. Orion sold 6,849,092 of the shares of common stock, including 1,153,846 shares pursuant to the underwriters' over-allotment option, which was exercised in full. Selling shareholders sold the additional 1,997,062 shares. Orion's common stock is listed on the Nasdaq Global Market under the symbol "OESX".
Verso Technologies, Inc.
Verso Acquires AccessGate Division From NMS Communications
ATLANTA, Dec. 24, 2007 (PRIME NEWSWIRE) -- Verso Technologies, Inc. (Nasdaq:VRSO), a global provider of next generation network solutions, announced today that it has acquired the AccessGate division of NMS Communications (Nasdaq:NMSS) of Framingham, Massachusetts, pursuant to an asset purchase agreement executed between the parties. In connection with the acquisition, Verso paid NMS $850,000 in cash and issued to NMS restricted shares of Verso common stock having an aggregate value equal to $2.5 million. Verso also assumed certain liabilities associated with the AccessGate division as part of the acquisition. Verso intends to integrate the AccessGate division with Verso's NetPerformer optimization product line to create a robust combined cellular backhaul optimization business focused on the rapidly-growing worldwide cellular backhaul business.