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Written by Chelsey Drysdale
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Thursday, 21 August 2008 |
RICHARDSON, TX – TXP Corp. and Cambridge Industry Group have signed a memorandum to merge, the firms said today. The merger reportedly would form the world's largest ODM and services business focused on fiber-to-the-home equipment. The combined company would also have the industry's widest family of ONT solutions.
TXP, which reported a second-quarter net loss of $10 million earlier this week, generated approximately $11 million in revenue in 2007, up about 24% year-over-year. CIG generated approximately $10.2 million in revenue, up 81% compared to 2006.
The merger is expected to close before year-end. Financial terms of the agreement were not disclosed.
TXP is an EMS and ODM firm. Shanghai-based CIG designs and builds FTTH equipment.
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