This news release was posted on the PST group. I think the first line says it all 
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Telescope maker moves to buy local company for $2.5 million
By Thomas Stauffer
ARIZONA DAILY STAR
Meade Instruments, the General Motors of the telescope industry, has
penned an agreement to buy Tucson-based Coronado Technology Group
LLC.
The sale of Coronado, the world's leading manufacturer of solar
telescopes and filters, should be finalized no later than Nov. 30,
said Brent Christensen, chief finanical officer for Meade, which is
headquartered in Irvine, Calif.
Meade will put up about $2.5 million in cash, plus incentives tied to
the financial performance of the company through the next calendar
year that could eclipse the initial payment, said Gerry Hogan,
majority shareholder in Coronado.
Coronado, which currently employs 25 people at its plant near South
Pantano Road and East 22nd Street, makes solar telescopes and filter
systems ranging in price from $500 to $32,000, said general manager
and part owner Jordan Frazier.
The company will remain headquartered in Tucson, and will continue to
be known as Coronado, Hogan said.
"The change that the public will see is the ability to get more
product out," she said. "They are not going to see a change in our
customer service or a change in our quality."
As the world's largest and only publicly-owned telescope company,
Meade has marketing muscle and 30 years of expertise with scopes,
Frazier said.
"We know how to build the filter systems really well, but they know
how to build telescopes better than we do," he said. "This is a good
thing for Coronado and its employees."
==============================================================
Telescope maker moves to buy local company for $2.5 million
By Thomas Stauffer
ARIZONA DAILY STAR
Meade Instruments, the General Motors of the telescope industry, has
penned an agreement to buy Tucson-based Coronado Technology Group
LLC.
The sale of Coronado, the world's leading manufacturer of solar
telescopes and filters, should be finalized no later than Nov. 30,
said Brent Christensen, chief finanical officer for Meade, which is
headquartered in Irvine, Calif.
Meade will put up about $2.5 million in cash, plus incentives tied to
the financial performance of the company through the next calendar
year that could eclipse the initial payment, said Gerry Hogan,
majority shareholder in Coronado.
Coronado, which currently employs 25 people at its plant near South
Pantano Road and East 22nd Street, makes solar telescopes and filter
systems ranging in price from $500 to $32,000, said general manager
and part owner Jordan Frazier.
The company will remain headquartered in Tucson, and will continue to
be known as Coronado, Hogan said.
"The change that the public will see is the ability to get more
product out," she said. "They are not going to see a change in our
customer service or a change in our quality."
As the world's largest and only publicly-owned telescope company,
Meade has marketing muscle and 30 years of expertise with scopes,
Frazier said.
"We know how to build the filter systems really well, but they know
how to build telescopes better than we do," he said. "This is a good
thing for Coronado and its employees."
Randy Roy
