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R&R Ranching to revamp due to GloTech acquisition

PROVO — R&R Ranching Inc. said Wednesday that its principal shareholders, officers and directors have entered into an agreement and plan of reorganization relating to the company's acquisition of GloTech Industries Inc., which will result in a change of control.

Terms of the transaction were not disclosed. The company said it will file with the Securities and Exchange Commission a report on Form 8-K that will provide additional details regarding the transaction.

GloTech is a technology-based company, headquartered in Gainesville, Fla., that develops, manufactures and markets products incorporating the Signature Illumination System, which is based on patent-pending electroluminescent technology developed at the University of Florida.

The company said details about GloTech Industries also will be available when the company's name and stock trading symbol have been changed "to better reflect the company's new business model."