V Ban Pays $2.5 Million, Options for Angus System
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The Angus System Inc. of Newport Beach has been acquired by V Band Corp. of Yonkers, N.Y., for $2.5 million in cash plus options to buy V Band stock.
Angus System is a privately owned designer and manufacturer of video switching systems. V Band, a manufacturer of telecommunication systems used by financial traders and dealers, plans to market Angus System’s video products to V Band’s existing customer base, spokesman Tom Davis said.
V Band, which reported $37 million in sales last year, had been trying to buy a video company for more than a year, Davis said. Angus System’s Newport Beach operations are expected to remain in place, he said, although reorganization details have not been finalized.
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