e-Manufacturing Networks to Acquire Spectrum CNC Technologies

e-Manufacturing Networks Inc. (e-MFG: Burlington, Canada) has signed a Letter of Intent to acquire Spectrum CNC Technologies (Corona, CA)—a leading North American direct numerical control software company—for US $1,800,000 in cash and company stock valued at U.S. $2 a share. The purchase price and definitive terms of the transaction are subject to, among other things, satisfactory due diligence, absence of material adverse change, and board and regulatory approvals.

Spectrum CNC Technologies Inc is the second company targeted by e-MFG (the first was Greco Systems of El Cajon, CA) for acquisition for their complementary technologies. Both companies are significant players with a large number of machine tools operating on their systems.

"The unique synergy of our three companies creates the primary machine tool InterNetworking company," explains Thomas M. Gaasenbeek, president & CEO of e-MFG. "The next generation solution will utilize the installed base and strengths of these companies to create a secure, open architecture platform that turns every machine tool into a node on the corporate network." Gaasenbeek explains that a machine tool as a node "becomes a web appliance that connects the point of production to management's information system, the supply and demand chains, in real time."

e-Manufacturing Networks Inc, 4046 Mainway Drive, Burlington, ON, Canada L7M 4B9; phone: 905-332-7717