New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
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.
News For ELON From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 20, 2015
08:31 EDTELONEchelon says stockholders approve 1-for-10 reverse stock split
Subscribe for More Information
November 16, 2015
13:48 EDTELONEchelon to host special shareholder meeting
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use