SYS Technologies shareholders say 'yes' to stock-for-stock deal with Kratos

By Lisa Kerner

Charlotte, N.C., June 26 - SYS Technologies, Inc. shareholders approved the company's merger with Kratos Defense and Security Solutions, Inc. at a special meeting on June 24, it was announced on Thursday.

In February, Kratos agreed to acquire SYS in a stock-for-stock transaction.

Under the companies' merger agreement, SYS stock will be converted into Kratos stock at an exchange ratio of 1.2582 shares of Kratos common stock for each outstanding share of SYS common stock.

San Diego-based SYS provides information connectivity solutions that capture, analyze and present information to customers in the Department of Defense, Department of Homeland Security, other government agencies and to commercial companies.

Kratos, also located in San Diego, provides engineering, IT services and warfighter solutions primarily in the United States.

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