API Technologies Agrees To Buy SenDEC, Will Become Majority Owned By Vintage Capital

API Technologies Corp.. signed a definitive merger agreement with Vintage Capital Management LLC to acquire SenDec Corp., a defense electronics manufacturing service concern based in Fairport, N.Y. API will buy 100 percent of the equity in SenDec. The deal will include SenDec’s manufacturing operations and about $30 million of cash for 22 million API common shares to an affiliate of Vintage Capital.