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5 months ago
BRIEF-ams buys 100 pct of shares in Princeton Optronics, Inc
March 17, 2017 / 7:28 AM / 5 months ago

BRIEF-ams buys 100 pct of shares in Princeton Optronics, Inc

March 17 (Reuters) - ams AG:

* Said on Thursday signed an agreement to acquire 100 percent of the shares in Princeton Optronics, Inc., a provider of Vertical Cavity Surface-Emitting Lasers (VCSELs), in an all-cash transaction

* Princeton Optronics has an annual revenue run-rate of around $10 million and is profitable

* Transaction includes an upfront consideration of $53.3 million in cash and a substantial cash earn-out consideration related to realized 2017 and 2018 revenues, with a potential maximum earn-out value of $75 million

* Transaction is expected to close within six months

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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