Solid State (GB:SOLI) has released an update.
Solid State PLC has expanded its components division, Solsta, through the acquisition of Gateway Electronic Components Ltd for an initial £1.4m, with the deal expected to enhance earnings and gross margins in the first year. Gateway, known for its specialization in ferrite and magnetic components, brings a strong customer base and complements Solid State’s existing product range, promising increased market opportunities and cross-selling potential. The acquisition is funded from Solid State’s existing cash resources and aligns with the company’s strategic growth and product diversification goals.
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