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Solid State acquires Willow Technologies for up to £9m
StockMarketWire.com
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Computing and power product manufacturer Solid State said it had acquired electro-mechanical product manufacturer Willow Technologies for up to £9 million.
The initial purchase price was £10.0 million but would come to only £5.5 million when adjusting for the cash on Willow's balance sheet.
An additional payment of up to £3.5 million, was contingent on Willow's performance up until the end of March 2022.
'The acquisition complements the group's opto-electronic and electronic component supplies capability; significantly enhancing the breadth of the group's offering, adding further scale, strength, and depth in electronic component supplies,' Solid State said.
At 9:34am: (LON:SOLI) Solid State Plc share price was 0p at 582p
Story provided by StockMarketWire.com
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