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ATLANTA - Video Display Corp. said Friday it has closed its acquisition of Farmingdale, N.Y.-based Boundless Technologies Inc. and transferred the company's operations to its subsidiary near Rochester, N.Y.
| VIDE | 7.67 |  -0.23 |
The subsidiary, electronics designer and manufacturer Z-Axis, has begun production of Boundless text terminals and thin clients, which the company makes for manufacturing, health care and financial companies as well as educational purposes.
Video Display, which makes cathode ray tubes for TVs and computer monitors, said the deal should boost Z-Axis revenue by as much as 40 percent. The company has not disclosed financial details of the acquisition, which was first announced in September.
The company's shares fell $1.25, or 15.7 percent, to $6.69. Shares have traded between $10.20 and $5.75 in the past year.
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