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Laird PLC Acquires Nextreme Thermal Solutions Technology

Wednesday, 13 Feb 2013 09:51am EST 

Laird PLC announced that the acquisition of Nextreme Thermal Solutions, Inc. (Nextreme), the US based developer of thin-film thermoelectric technologies. Nextreme's technology, delivering high precision cooling in an ultra-small form factor, will advance Laird's leadership in its existing thermal management business. This is particularly beneficial as devices become smaller and more compact. Laird will acquire 100% of the equity of Nextreme for a cash cost of $1, with potential cash earn-out payments based on a multiple of 0.4 times revenue over a four year period from 2014 (capped at $60 million if $150 million in revenue is achieved). In 2013, Nextreme is expected to make a loss of $3 million as the Company moves from technology investment to mass production. 

Company Quote

-0.9 -0.30%
28 Nov 2014