908 Devices Expands Portfolio with RedWave Acquisition
Company Announcements

908 Devices Expands Portfolio with RedWave Acquisition

908 Devices (MASS) has provided an announcement.

On April 29, 2024, 908 Devices Inc. acquired RedWave Technology, a specialist in portable spectroscopic analyzers, in a strategic move to enhance its product offerings. The deal, valued at $45 million in cash and over 1.4 million shares of 908 Devices’ common stock, also includes potential additional shares contingent on RedWave’s future sales performance. RedWave now operates as a wholly-owned subsidiary, with certain sellers agreeing to non-competition clauses and a lock-up period for their shares. This acquisition promises to be a game-changer in the chemical identification market, offering significant growth potential for 908 Devices.

See more insights into MASS stock on TipRanks’ Stock Analysis page.

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