Computer search company Copernic Inc. said Friday it has signed a deal to buy waste management equipment maker Fanotech Manufacturing Group for in a cash and stock deal.
Under the deal, Copernic said it would pay roughly $1.5 million in cash and issue 320,000 shares for the mobile and fixed solid waste handling equipment maker.
"With its underutilized manufacturing facilities, union free workforce, and engineering skills in metal fabrication, Fanotech represents important synergies and strategic long term value for our previously announced proposed acquisition of Sunbay Canada, a waste to energy conversion business," said Marc Ferland, president and chief executive of Copernic.
Copernic is the former Internet search company Mamma.com.
The company now specializes in search technology for computers.
Copernic shares were up seven cents at US$2.70 on the Nasdaq market on Friday.