Vicor Corp (VICR +0.4%) expands its sales and support network in India by inking a partnership with sales representative CoreEL Technologies and the opening of a Vicor Technical Support Center in Bangalore. CoreEL Technologies, provides technical design and support services in India, and will represent VICR via local offices in Bangalore, Hyderabad, Delhi and Pune. Meanwhile, its new technical support office will give technical counsel and support to key customers in the region.
Vicor (VICR +1.1%) gains today after announcing the results of its Dutch Auction, saying it agreed to pay about $6.7M to repurchase 1,341,575 of its common shares at $5.00. The shares purchased are equivalent to about 4.8% of the total stock outstanding. The tender offer, which ended at the close of trading on April 22nd, was financed by cash on hand.
Vicor Corp. (VICR +6.8%) trades up today on the back of the company's announcment that it's commencing a "Dutch Auction" tender offer to repurchase shares up to $20M shares of its common stock. The tender is expected to commence Monday, November 26, and to expire, unless extended, by Friday, December 28.