Bankruptcy Court OKs Adelphia Security Deal


Devcon International Corp.’s previously announced deal to acquire certain net assets of Adelphia Communications Corp.'s electronic-security-services unit, Starpoint Limited Partnership, has been approved by the U.S. Bankruptcy Court for the Southern District of New York, Devcon said Friday.

The deal as valued at approximately $42.8 million in cash, and it is scheduled to close on or before Feb. 28.

Devcon also announced that Ron G. Lakey has joined the company as chief financial officer.

Lakey had been CFO of Alice Ink Inc.