IXYS Corp. completed the acquisition of RadioPulse Corporation from ESang Technology Investment and others.
May 01, 2015 at 12:00 am
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IXYS Corp. (NasdaqGS:IXYS) entered into a definitive agreement to acquire RadioPulse Corporation from ESang Technology Investment and others for $20.9 million on February 2, 2015. Under the agreement, the shareholders of RadioPulse will receive an up-front payment of up to $14.9 million in cash and potentially up to $6 million in earnout consideration. During the year ended December 31, 2014, RadioPulse's revenues were approximately $7.9 million.
The transaction is subject to approval by regulatory board, third party approvals, resignation of RadioPulse Directors, execution of non competition, escrow and employment agreements. The Board of Directors of both IXYS and RadioPulse have unanimously approved the acquisition, which awaits the satisfaction of customary closing conditions. The deal is expected to close by March 31, 2015. Kang-Ho Jhe of Kim, Chang & Lee acted as the legal advisor for RadioPulse Corporation. Taek-Shin Kwon of Heritage Law Office acted as the legal advisor for ESang Technology Investment and others.
IXYS Corp. (NasdaqGS:IXYS) completed the acquisition of RadioPulse Corporation from ESang Technology Investment and others on May 1, 2015.
Atinum Investment Co., Ltd is a Korea-based company principally engaged in the venture investment business. It mainly invests in information technology (IT) and communication, renewable and energy, bio and life science, materials and components, as well as media and contents industries. The Companyâs principal activities consist of venture support services, including the consulting of foundation procedures, start-up capital support procedures, tax and accounting, and government support policies; support services for its investment companies including business consulting services of technology trends, strategy plans, human resource plans, initial public offerings (IPOs), restructurings, mergers and acquisitions (M&As), market information and others, and international supports services such as overseas corporation investments as well as cooperative mutual investments of domestic and overseas corporations.