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Comverge, Inc to Acquire Enerwise Global Technologies.

Publication: M2 Presswire
Publication Date: 29-JUN-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-29 June 2007-ANALYSIS: Comverge, Inc to Acquire Enerwise Global Technologies(C)1994-2007 M2 COMMUNICATIONS LTD

RDATE:29062007

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Comverge Inc., which provides equipment and services to utilities to increase electric capacity at peak times, said Wednesday 2007-06-27 it will acquire Enerwise Global Technologies in a cash and stock deal worth $75.7 million.

The purchase price includes about $25.2 million in cash, $17 million in subordinated convertible notes due in April 2009 and about 1.3 million shares of Comverge common stock which had a market value of $33.6 million as of Tuesday, the company said.

After closing, former Enerwise shareholders...

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