Adesto Completes Acquisition of Echelon
Last adesto technologies corp earnings: 5/7 04:05 pm
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US:NASDAQ Investor Relations: ir.adestotech.com/investor-overview
SANTA CLARA, Calif., Sept. 14, 2018 (GLOBE NEWSWIRE) -- Adesto® Technologies (NASDAQ: IOTS), a leading provider of innovative application-specific semiconductors and systems for the IoT era, is pleased to announce the successful completion of its previously announced acquisition of Echelon Corporation (NASDAQ: ELON). Echelon® is a pioneer in the development of open-standard networking platforms for connecting, monitoring and controlling devices in commercial and industrial applications. The definitive agreement was initially announced on June 29, 2018, and Echelon shareholders approved the transaction at a Special Meeting of Shareholders held on September 13, 2018. The transaction closed and became effective today, with each share of Echelon being converted into the right to receive $8.50 in cash, without interest. The cash transaction represents a total equity value of approximately $45 million, and a total enterprise value of about $30 million. Echelon’s trailing 12-month revenue
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- Adesto Technologies Corp (NASDAQ: IOTS) was downgraded by analysts at Zacks Investment Research from a "buy" rating to a "hold" rating.MarketBeat
- Adesto Technologies Corp (NASDAQ: IOTS) was upgraded by analysts at ValuEngine from a "buy" rating to a "strong-buy" rating.MarketBeat
- Adesto to Participate at the ROTH London Conference on June 18GlobeNewswire
- Adesto Technologies Corp (NASDAQ: IOTS) was upgraded by analysts at Zacks Investment Research from a "hold" rating to a "buy" rating. They now have a $8.75 price target on the stock.MarketBeat
- Adesto Technologies Corp (NASDAQ: IOTS) was downgraded by analysts at TheStreet from a "c-" rating to a "d" rating.MarketBeat
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