Emcore, Velocity One enter merger agreement for $3.10 per share in cash

Velocity One has signed a merger agreement with EMCORE (EMKR) Corporation. Under the agreement, EMCORE will become a wholly owned subsidiary of Velocity One. The purchase price of $3.10 per share in cash, backed by Charlesbank Capital Partners, has been unanimously approved by the EMCORE board of directors. Velocity One will now have three industry leaders operating under its wing. In addition to EMCORE, it will comprise Cartridge Actuated Devices, a 50-year veteran designer and manufacturer of energetic devices, and Aerosphere Power, a manufacturer of power system solutions for commercial and military aerospace, military ground vehicles, and UAV applications.