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Under the terms of the definitive merger agreement, Peerless was permitted to solicit alternative acquisition proposals from third parties during a "go-shop" period that ended on 10 February.
Akshay Gupta, managing director and CEO, Peerless Funds Management Company stated : In our quest for deeper and more inclusive penetration, which will benefit maximum customers with effective capital market solutions, we are privileged and proud to partner with Allahabad Bank.
The deal will see Peerless represent Skytech in Europe while in the US and Canada, Skytech will promote Peerless' valves and products through its 30-strong sales force.
Steve Crutchley, managing director of Peerless Gas Controls, said: "We believe our agreement with Skytech will result in a major breakthrough in the US market for Peerless as Skytech is one of the major players in this market.
Dale Behnen, co-owner of Peerless Resource Recovery and Peerless Landfill, was the principal organizer of the seminar.
The Workmans formed KNL Holdings LLC to buy Peerless, and the transaction was completed on Feb.
The Sprint peerless IP network is specifically tailored to meet the performance and security demands of government customers by eliminating connections to the public Internet and creating a closed user group environment," said Tony D'Agata, vice president and general manager for Sprint's Government Systems Division.
One of our strategic initiatives is to extend the reach of Peerless Systems' technology into new markets," said Howard Nellor, CEO of Peerless Systems Corporation.
Headquartered in El Segundo, California, Peerless Systems Corporation is a provider of embedded imaging and networking systems to manufacturers of color, monochrome and multifunction office products and digital appliances.
The Peerless team has been laying the groundwork for aggressive expansion in the past three years.
Our London point of presence is another example of our commitment to providing higher-quality options for our customers," said Rick Knight, Executive Vice President of Sales and Marketing for Peerless Network.
Through secure access to the 'cloud-based' LCR platform and a single SIP (Session Initiation Protocol) interface to Peerless Network, customers can optimize their termination costs from anywhere and at any time.
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