Thursday, July 17, 2008

Asyst Technologies Has a Buyer

By Chris Thompson
Thu, Jul 17, 2008 at 8:47 AM

Careful readers (that's all of you, right?) will remember that last month, Fremont tech company Asyst Technologies spun into crisis mode, as a hedge fund tried to seize control of the firm and sell it at auction. Now, a new company has stepped forward and offered to buy the company, which has gone from a $500,000 profit to a $900,000 quarterly loss. Aquest Systems Corp. has made a cash offer or $6.50 a share, which is significantly higher than the present value of $3.91 a share. But don't think Aquest is riding in on a white horse or anything; according to the East Bay Business Times, Aquest was listed as among the companies helping the hedge fund Riley Investment Partners seize the company at the next shareholders meeting.

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