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DDi Buys Coretec

January 4, 2010 (FinancialWire) — DDi Corp. (NASDAQ: DDIC) and Coretec Inc. (TSX: CYY ), both providers of printed circuit board engineering and manufacturing services, said that DDi has completed the acquisition of Coretec. The purchase price of CDN $25.2 million was comprised of around CDN $7.4 million in cash for Coretec’s securities and repayment or assumption of CDN $17.8 million of Coretec debt.

DDi indirectly acquired 17,506,807 shares of Coretec, representing approximately 97.1% of the issued and outstanding shares in the capital of Coretec, for consideration of CDN $0.38 per share. The firm owns 515,000 shares of Coretec, representing the remaining approximately 2.9% of the issued and outstanding shares in the capital of Coretec.

As a result of the arrangement, Coretec is owned directly and indirectly by DDi. The acquisition was effected by way of plan of arrangement pursuant to a final order of the Ontario Superior Court granted on December 30, 2009. Coretec expects that its shares will be delisted from the Toronto Stock Exchange at the close of trading on or about January 5, 2010.

Anaheim, California-based DDi and its subsidiaries offer PCB engineering, fabrication and manufacturing services to electronics OEMs and contract manufacturers worldwide from its facilities across North America and with manufacturing partners in Asia.

Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at Recently issued reports and filings include Weatherford International Ltd. (NYSE: WFT), UQM Technologies, Inc. (AMEX: UQM), Panhandle Oil and Gas, Inc. (NYSE: PHX), Encore acquisition Company (NYSE: EAC), Altius Minerals Corp. (TSX: ALS), PKC Group Oyj (PLUS: PKC1V) and Standard Life Investments European Private Equity Trust PLC (LSE: SEP) (PLUS: SEP).

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