Maxwell Technologies Announces Agreement for Sale of Microelectronics Product Line
SAN DIEGO - Maxwell Technologies, Inc. (NASDAQ: MXWL), a leading developer and manufacturer of ultracapacitor-based energy storage and power delivery solutions, today announced that it has entered into a definitive agreement to sell its microelectronics product line to Data Device Corporation, a subsidiary of ILC Industries, Inc. The agreement includes all assets and certain liabilities related to the microelectronics product line.
Gross proceeds from the transaction are expected to be $21 million in cash. The purchase price is subject to working capital and closing transaction adjustments. The sale transaction is expected to close by the end of April 2016, subject to customary and negotiated closing conditions.
About Maxwell:
Maxwell is a global leader in the development and manufacture of innovative, cost-effective energy storage and power delivery solutions. Our ultracapacitor products provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation and telecommunications. Our high-voltage grading and coupling capacitors help to ensure the safety and reliability of electric utility infrastructure and other applications involving transport, distribution and measurement of high-voltage electrical energy. Our radiation-mitigated microelectronic products include power modules, memory modules, and single board computers that incorporate powerful commercial silicon for superior performance and high reliability in aerospace applications. For more information, please visit our website: www.maxwell.com.
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Maxwell Technologies, Inc.
Web Site: http://www.maxwell.com
