Orbital Energy's unit buys telecom engineering co, shares gain

Orbital Infrastructure

02/08/2021 14:10

** Industrial gas sampling and measurement equipment maker's
shares  OEG.O  up as much as 4.99% at $3.58 premarket 
    ** Co's telecommunications unit, Gibson Technical Services,
Inc to buy IMMCO Inc, a privately owned telecom engineering
 urn:newsml:reuters.com:*:nPnc0vCWNa
    ** The deal will immediately add revenues and earnings to
GTS and to OEG - Orbital Energy
    ** IMMCO's senior management team, including CEO and 40-year
industry veteran, Keith Hayes, will remain with the company
    ** IMMCO has about 400 employees across four offices in the
United States, India, Australia, and Europe and for 2021, it
expects to generate revenues of ~$10.6 million
    ** Stock up ~55% YTD, as of last close 

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))