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RealTime IT News

Apex Announces Merger with Cybex

Redmond's Apex Inc. has announced a merger with Cybex Computer Products Corporation. The final approval from shareholders came Friday, and is currently trading under its new name Avocent Corporation (Nasdaq: AVCT).

The merger will allow the Avocent Corporation to supply connectivity solutions for enterprise data centers, service providers, and financial institutions worldwide.

Within the new organization, both the Apex and Cybex product lines will continue to be marketed. These include: KVM switching console systems, KVM extension products, digital video solutions and remote access management tools.

Apex stockholders will receive 1.0905 shares of Avocent Corporation common stock for each share of Apex common stock. Stockholders of Cybex Computer Products Corporation will receive one share of Avocent Corporation common stock for each common share of Cybex. Avocent Corporation had 42,776,511 shares outstanding as of July 1, 2000, including the conversion of all Apex and Cybex shares into Avocent Corporation.

The company will be headquartered in Huntsville, Alabama, with a significant presence in Redmond.



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