ELK GROVE VILLAGE -- Electronic manufacturing services company SigmaTron International Inc. said Friday it plans to merge with Wagz Inc.
Wagz is a privately held pet technology company based in Portsmouth, N.H. SigmaTron and Wagz have developed a relationship over the last two years working together to manufacture part of Wagz's product portfolio, according to a company statement. SigmaTron officials said the pet tech sector fits well with its scalable global assembly and manufacturing capabilities.
Under the terms of the agreement, SigmaTron would issue approximately almost 2.3 million new shares of its stock that would result in the stockholders of Wagz owning approximately one-third of the combined company.
The companies expect to close by the end of August.