Interlink Electronics announces letter of intent for acquisition transaction

Interlink Electronics (LINK) announced that it has executed a non-binding Letter of Intent for the acquisition of a privately held company based in the United Kingdom for an all-cash purchase price of up to approximately $1.9 million, payable in part at closing and in part through a three-year earnout. The company has over two decades of experience in contract manufacturing and outsourced engineering services, and in its last fiscal year, it broke even on revenues of approximately $5 million. The acquisition is subject to the parties’ execution of a definitive purchase agreement, satisfactory due diligence and customary closing conditions and is anticipated to close later this year. “This acquisition, if completed as expected, would be complementary to our Calman Technology subsidiary and would benefit from integration into our existing resources and a more robust, combined sales effort,” said Steven N. Bronson, Chairman, CEO and President. “It further demonstrates our commitment to growing the Company both organically and through acquisitions and adds to our presence in the UK and EU markets.”