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Stock Market & Financial Investment News

News Breaks
January 15, 2014
09:00 EDTELONEchelon falls 5.2%
Echelon is down 5.2%, or 16c, to $2.92
News For ELON From The Last 14 Days
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August 22, 2014
05:18 EDTELONEchelon to sell Grid operations to S&T AG
Echelon announced that it has signed a definitive agreement to sell its Grid operations to S&T AG, a publicly traded European IT systems provider with an existing focus on smart energy products and services. The companies expect the deal to close by the end of the year. Under the terms of the agreement, Echelon will receive approximately $5M in upfront consideration, dependent in part on the value of net assets at closing. After fees, expenses, and restructuring charges are considered the company expects the net benefit to be nominal. Echelon will also become a supplier of its industry-leading narrowband high-reliability power line communications chips to S&T for use in their smart meters and related products. Echelon will receive future benefits in the form of revenue from the purchase of these products, as well as rental income, and potential performance-based consideration of up to $1M. As part of the transaction approximately 60 current Echelon employees are expected to join S&T. The acquisition is anticipated to be accomplished via a subsidiary established by S&T.
August 19, 2014
08:01 EDTELONEchelon announces Lumewave acquisition
Echelon announced that it has acquired Lumewave. Echelon will sell the Lumewave products, which include individual lighting controllers, gateways, and management and maintenance software, and will incorporate Lumewave’s established sales channels in North America into its existing channels worldwide. Terms of the transaction were not disclosed.

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