U.S. radiosurgery provider, Accuray, will acquire rival TomoTherapy for around $277 million in a cash and stock deal. The takeover has been approved by the boards of both companies and is likely to be completed by the beginning of the third quarter. Accuray appointed UBS Investment Bank as its financial advisor, while BofA Merrill Lynch advised TomoTherapy on the deal. The combined company will have an installed base of more than 550 units in 32 countries.

Click here for the release from PR Newswire.