Diceon Electronics Signs to Acquire Symtron Corp.

Irvine-based Diceon Electronics Inc. said it has signed an agreement in principle to acquire Symtron Corp., a closely held company headquartered in Mountain View, Calif., for 300,000 shares of Diceon common stock, or 5.45% of the company’s 5.5 million shares outstanding.

Value of the acquisition, based on Monday’s closing price of $39.25 per share for Diceon common stock, would be $11.7 million.

Terms of the agreement are subject to a number of conditions including approval by the board of directors of Diceon and execution of a definitive agreement.

A Diceon spokesman said Symtron’s management would continue running the business as a wholly owned subsidiary of Diceon once the acquisition is completed.

Symtron Corp. had 1986 sales of about $20 million. The company manufactures multilayer back-panels--large electronic components used to connect printed circuit boards.

Diceon designs and manufactures multilayer circuit boards.