Flow International Corp. to acquire OMAX through options agreement
Flow International Corp. (Nasdaq: FLOW), a developer and manufacturer of industrial waterjet machines, said it will acquire OMAX Corp. through an options agreement for $109 million in cash and stock, including the amounts paid for the option agreement.
The deal also includes the potential for a contingent earn-out in two years of up to $26 million in either stock or cash at Flow's option.
OMAX is a Kent, Wash.-based privately held provider of precision-engineered, computer-controlled, abrasive waterjet systems.
Shares of Flow International (FLOW) were halted in pre-market trading.
