Tii Network Technologies To Be Acquired By Kelta For $2.15 Per Share

Tii Network Technologies, Inc. TIII today announced that it has entered into a definitive merger agreement with Kelta, Inc., a Delaware corporation, pursuant to which Kelta will acquire Tii Network Technologies for $2.15 a share, or total consideration of approximately $33.1 million. The merger consideration represents an approximately 48% percent premium over the closing price of Tii Network Technologies' common stock as quoted on the website of the NASDAQ Stock Market on May 11, 2012.