Kimball Electronics Signs Agreement to Acquire Global Equipment Services (GES)
Kimball Electronics, Inc. (KE)
US:NASDAQ Investor Relations:
investors.kimballelectronics.com/investor-overview
Company Research
Source: GlobeNewswire
JASPER, Ind., May 17, 2018 (GLOBE NEWSWIRE) -- Kimball Electronics, Inc. (Nasdaq:KE), acting through its wholly-owned subsidiaries, announced today that it has signed an agreement to purchase substantially all of the assets and assume certain liabilities of GES Holdings, Inc., Global Equipment Services and Manufacturing, Inc., and its subsidiaries (collectively “GES”) for approximately $50 million plus the assumed liabilities, subject to certain post-closing working capital adjustments. The transaction is also subject to customary closing conditions, regulatory requirements, and governmental approvals. The transaction is expected to close in the first quarter of Kimball’s fiscal year 2019. “The acquisition is a significant step in our new platform strategy and our plans to continue our development beyond EMS to a multifaceted manufacturing solutions company,” stated Donald D. Charron, Chairman and CEO, of Kimball Electronics, Inc. About GES GES, headquartered in San Jose, Calif
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