Maxwell Technologies Inc., a leading developer and manufacturer of ultracapacitor-based energy storage and power delivery solutions, announces that it has completed the previously announced sale of its microelectronics product line to Data Device Corporation (DDC), a subsidiary of ILC Industries Inc. The sale included all assets and certain liabilities related to the microelectronics product line. As part of the purchase agreement, 37 employees have transitioned from Maxwell to DDC. Existing product customers and business partners should see no disruption in service.
The transaction purchase price was $21 million in cash. Canaccord Genuity acted as Maxwell's exclusive financial advisor.