Optex Systems Announces Acquisition Of Speedtracker From RUB Aluminum And Has Also Established A Contract Manufacturing Agreement For The Continued Production Of The Speedtracker Mach 4+ Product Line; No Financial Terms Disclosed
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Optex Systems Holdings, Inc. (NASDAQ:OPXS) has acquired Speedtracker from RUB Aluminum and entered into a Contract Manufacturing Agreement to continue producing the Speedtracker Mach 4+ product line. The acquisition was made with cash on hand and may include future payments based on milestones. Speedtracker is a radar-based chronograph for measuring projectile velocity, and Optex aims to expand its distribution and growth. No financial terms were disclosed.
January 22, 2024 | 1:04 pm
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Optex Systems has acquired Speedtracker, a radar-based chronograph product, and will continue its production through a partnership with RUB Aluminum. This move could enhance Optex's product offerings and market presence.
The acquisition of Speedtracker is likely to have a positive impact on OPXS's stock price in the short term due to the expansion of its product line and potential for market growth. The partnership for manufacturing also suggests a strategic move to ensure product quality and continuity, which could be viewed favorably by investors. However, without financial terms disclosed, the full impact on the company's financials remains uncertain.
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