N-W Group Inc of New York says that it has now entered into a purchase and sale agreement with Glenayre Electronics Ltd of British Columbia, Canada under which it will acquire the electronics telecommunications manufacturing business of Glenayre for $100m cash, 453,033 shares of N-W Group common and assumption of some liabilities of the business, which comprises design, development, manufacture and sale of wireless telecommunications equipment including paging systems, voice messaging, mobile telephone systems, data and transit communication systems and alphanumeric dispatch systems; N-W Group is the successor to Nu-West Group Ltd, an Alberta, Canada company, which was active in property development until 1984, when it began the orderly liquidation of its property portfolio, which it says is not complete.
