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Stock Market & Financial Investment News

News Breaks
May 7, 2014
07:16 EDTMICTMicronet Enertec acquires a Beijer Electronics U.S. division for $6.5M
Micronet Enertec subsidiary Micronet Ltd. signed a definitive agreement to acquire the Mobile Resource Management/FM business division of U.S.-based Beijer Electronics, a wholly owned subsidiary of Beijer Electronics, a Swedish publicly traded corporation. Closing of the deal is expected by mid-June. Micronet will pay $6.5M in cash plus up to $1.3M for necessary inventory As part of the transaction, MRM/FM division employees will join Micronet. Beijer's MRM/FM generated approximately $11M in 2013.
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