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ModusLink Global Solutions, Inc. Message Board

  • joevacus joevacus Jan 15, 2013 11:15 AM Flag

    Modul Link buys Tech For Less for 30 million ... 2009

    Modus Link buys Tech For Less for at least 30 million
    December 7 2009
    *I tried posting link but this board would not post it*

    Sentiment: Hold

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    • joevacus, thanks. I looked up the original press release - OUCH!

      WALTHAM, Mass., December 7, 2009 — ModusLink Global Solutions™, Inc. (NASDAQ: MLNK), which provides global execution of multichannel supply chain processes for the world’s leading technology brands, announced that it has acquired Tech for Less LLC (TFL), a leading processor and marketer of customer-returned consumer electronics and business technology products. The all-cash transaction is valued at $30 million, plus additional performance-based consideration of up to $10 million if certain financial performance measures are met in calendar year 2010. The transaction is expected to be accretive to ModusLink’s cash flow and neutral to earnings in fiscal 2010 and accretive to cash flow and earnings in fiscal 2011.

      • 2 Replies to spook2b
      • thanks for posting article spook2B...I guess I forgot how to cut-and-paste!!! (o:

        Sentiment: Hold

      • In real life people are fired for this stuff not paid retention bonuses...Crane and Board??? I wish I realized I could ask a questions at yesterdays CC (figured there would be many more and was just listening online)...

        Question: Why would you (Crane the CFO) not have made costs cuts in 2009 and are you not ashamed to take a bonus for losing our money? You did nothing for 4 years...except throw away $30M...I may go to the Annual Meeting...anyone else?

        Vote HNH

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