Multimedia communications financial trading technology operation IPC Information Systems Inc is set to be bought by Cable Systems Holding Llc for an anticipated $253m. Cable Systems has two operating subsidiaries; code assemblies manufacturer LoDan Electronics Inc which Cable Systems bought in February, and telecommunications product manufacturer Cable Systems International Inc, which will be affected by the deal. Cable Systems, headquartered in Phoenix, Arizona will purchase a minimum 54% stake in IPC shares, but it could be as much 90%. New York-based IPC is going ahead with the deal to enable it to gain the resources required to grow on an international basis. The purchase is subject to majority shareholder approval, which is expected to happen within the next three months.
