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February 14, 2014
08:53 EDTCAJ, TINYHarris & 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.
News For TINY;CAJ From The Last 14 Days
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November 20, 2014
12:00 EDTCAJAnalyst sees new competition shaking up 3D printing market
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November 16, 2014
19:58 EDTCAJJapan's GDP contracts 1.6% in third quarter, WSJ says
Japan's economy has slumped into a recession in the third quarter as a sales tax increase resulted in firms cutting inventory and capital investment, says the Wall Street Journal. According to the Wall Street Journal report, Japan's real GDP in Q3 retreated 1.6% on an annualized basis against a median forecast for a 2.25% expansion. The setback in the country's growth will likely result in Prime Minster Shinzo Abe postponing a second sales tax increase, added the Wall Street Journal. Reference Link

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