Today we received a joint statement from Hoya and Pentax confirming a 'management integration' agreement. The statement spells out the purpose of the merger as well as the terms; Hoya will pay 105 billion Yen (approx. $860 million) for all outsanding Pentax shares. The deal could go ahead as soon as next Monday (June 4th). We fully expec this deal to strengthen Pentax's position iespecially considering the growing importance of the lens market.