A Venable team consisting of Business Transactions Practice Group attorneys Tuck Washburne, Eric Smith, and Kevin Loden, with assistance from John Wilhelm (employee benefits and executive compensation), Norman Lencz (tax), Paul Debolt, Michael Sherman and Patrick Quigley (government contracts and export controls), Thomas Strong (Labor and Employment) and Thomas Lingan (Environmental), represented Pyxis Engineering LLC and its majority owner in the sale of all of the outstanding stock of Pyxis to Applied Signal Technology, Inc. (NASDAQ: APSG).
Pyxis is an Eldersburg, Maryland-based provider of software engineering, application architecture and systems engineering services to the Department of Defense and intelligence community and Applied Signal Technology is a Silicon Valley-based developer of digital signal processing products.
The transaction was signed and closed on September 1, 2009, and is worth up to $20 million.