AMETEK (AME) and Zygo Corporation (NASDAQ:ZIGO) announced that they have entered into a definitive merger agreement under which AMETEK will acquire all of the outstanding shares of common stock of Zygo at a purchase price of $19.25 per share in cash, which represents a premium of 31% to Zygo’s closing share price on April 10, 2014. The aggregate enterprise value of the transaction is ~$280 million, taking into account Zygo’s outstanding equity awards and net cash to be acquired in the transaction. The transaction was unanimously approved by the Board of Directors of Zygo. Zygo Corporation (NASDAQ:ZIGO) shares after opening at $19.16 on last trade day and at the end of the day closed at $19.43. Company price to sales ratio in past twelve months was calculated as 2.25 and price to cash ratio as 4.06. Zygo Corporation (NASDAQ:ZIGO) showed a positive weekly performance of 25.84%.
EPAM Systems Inc (NYSE:EPAM), announced that Karl Robb, EPAM Systems` Executive Vice President & President of EU Operations, and member of the Board of Directors, intends to retire from his operational responsibilities for health related reasons during the first quarter of 2015. During the course of this year, Mr. Robb will transition away from his day-to-day responsibilities but will remain in an advisory role until his actual retirement. Mr. Robb will work with the Chief Executive Officer and senior management team to ensure a smooth transition process prior to his actual retirement. It is expected that Mr. Robb will continue to serve on the Board of Directors of EPAM Systems. EPAM Systems Inc (NYSE:EPAM) shares advanced 8.43% in last trading session and ended the day on $33.44. EPAM return on equity ratio is recorded as 18.30% and its return on assets is 15.80%. EPAM Systems Inc (NYSE:EPAM) yearly performance is 45.39%.
Ubic Inc (ADR) (NASDAQ:UBIC), announced the introduction of its Big Data Case Management System (litigation version), which can process up to 200 terabytes (TB) of data per application. This new service will be commercially available May 1 of this year. Ubic Inc (ADR) (NASDAQ:UBIC) shares moved up 9.44% in last trading session and was closed at $11.48, while trading in range of $10.55 – $11.59. Ubic Inc (ADR) (NASDAQ:UBIC) year to date (YTD) performance is 115.79%.
Overland Storage Inc (NASDAQ:OVRL) has been struggling lately, but the selling pressure may be coming to an end soon. That is because OVRL recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom. Plus, earnings estimates have been rising for this company, even despite the sluggish trading lately. Estimates have actually risen so much that the stock now has a Zacks Rank #2 (Buy) suggesting this relatively unloved stock could be due for a breakout soon. Overland Storage Inc (NASDAQ:OVRL) weekly performance is -0.49%. On last trading day company shares ended up $4.03. Overland Storage Inc (NASDAQ:OVRL) distance from 50-day simple moving average (SMA50) is -12.92%. Analysts mean target price for the company is $3.00.