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The latest announcement is out from Kimball Electronics (KE).
Kimball Electronics has sold its Automation, Test, and Measurement (AT&M) subsidiary to Averna Technologies Inc.’s subsidiary, Averna Test Systems Inc., for an initial cash consideration of approximately $24.3 million. This strategic move will enable Kimball Electronics to intensify its focus on its core EMS operations. The proceeds from the sale are intended to be used for organic growth, debt reduction, and share repurchases. Concurrently, Christopher J. Thyen has transitioned from Kimball Electronics to Averna, ending his employment with Kimball Electronics without any disagreements, and is set to receive a cash incentive of $260,000 under a Transition Agreement.
See more data about KE stock on TipRanks’ Stock Analysis page.
