Vanda to buy Comtech slice

Vanda Systems & Communications Holdings has entered an agreement with Lam Lui-ming, an independent third party, to buy 75 per cent of Comtech Engineering and Consultant Co for $65.4 million.

Comtech trades communication products in China and Hong Kong. Vanda will pay for the deal by issuing 12 million new shares at $3.15 a share and using internal resources.