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Stock Market & Financial Investment News

News Breaks
February 14, 2014
08:53 EDTTINY, CAJHarris & Harris notes MII's semiconductor business to be acquired by Canon
Harris & Harris (TINY) notes the announcement by its portfolio company, Molecular Imprints, or MII, that it has signed an agreement to sell its semiconductor imprint lithography equipment business to Canon (CAJ). Canon began conducting research into nanoimprint technology in 2004 to enter the market for lithography equipment for leading-edge high-resolution patterning. Since 2009, Canon has been carrying out joint development with MII and a major semiconductor manufacturer for mass production using MII's Jet and FlashTM Imprint Lithography, or J-FILTM, technology. Harris & Harris Group invested a total of $4.6M in MII beginning with its initial investment in 2004 and valued its securities of the company at $6.5M as of September 30, 2013. Upon closing, Harris & Harris Group expects to receive approximately $7M in proceeds from the sale, including amounts to be held in escrow. Harris & Harris Group could receive an additional $1.7M upon the achievement of certain milestones. The merger is expected to be completed by April after normal shareholder and government approvals.
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April 16, 2014
13:24 EDTCAJCanon's quarterly operating profit likely hit Y80B, sales at Y870B, Nikkei says
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