Cybernetics Products Inc.: The Santa Ana-based maker...
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Cybernetics Products Inc.: The Santa Ana-based maker of high-technology manufacturing tools, computerized machinery controls and precision camera and scanning equipment said it has acquired a 53% equity interest in Vision Ten, a New Jersey medical imaging equipment company.
Cybernetics said it will issue about 160,000 shares of its common stock to Vision Ten shareholders and will retire a $650,000 Vision Ten note by issuing an additional 216,666 shares of Cybernetics common to the note-holder.
The acquisition will not affect Cybernetics’ employment in Orange County, where 45 people work in the corporate headquarters and a manufacturing division. Another 55 people are employed in divisions in Connecticut and New Jersey.
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