Thermage Acquisition of Reliant Technologies' Fraxel Complete

Thermage Inc. has closed its acquisition of Reliant Technologies Inc. in a cash-and-stock deal worth approximately $66.2 million based on current share prices.

Reliant’s sales team of about 75 individuals will be combined with Thermage’s to help boost marketing efforts of the combined companies, allowing sales staff to sell both Thermage and Fraxel in one call.

Reliant has vacated its offices in Mountain View and is moving to Hayward, where Thermage is expanding to accommodate Reliant, including a new custom clinic.

California-based Thermage (THRM) bought the Mountain View company for approximately $25 million in cash, 23.6 million shares of Thermage common stock, and the assumption of up to $7 million of net debt, subject to post closing adjustments.

Thermage shares were trading at $1.42 Tuesday afternoon. They were trading at more than $2.50 in July, when the deal was announced.

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