INTERLINK ELECTRONICS INC (LINK): M&A transaction — Interlink Electronics acquires SPEC Sensors & KWJ Engineering for ~$2M; TTM revenue >$4M

INTERLINK ELECTRONICS INC

Purchase price $2.27M: $1.52M cash at closing, $375K escrow for price adjustment, $375K for indemnification.
Trailing twelve months revenue of acquired businesses exceeded $4M through November 2022 per press release.
Purchase price subject to adjustment based on combined net working capital vs. $1.35M threshold.
CEO Steven Bronson calls it the first of many acquisitions to build a diversified sensor portfolio.
Acquisition adds gas sensor IP and an engineering team in Silicon Valley; financial statements to be filed later.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

INTERLINK ELECTRONICS INC completed an acquisition involving SPEC Sensors, LLC and KWJ Engineering, Inc. for $2,269,000 (closed 2022-12-16).

Action: acquisition
Counterparty: SPEC Sensors, LLC and KWJ Engineering, Inc.
Consideration: $2,269,000
Closing: 2022-12-16

Exact text from the filing

representations, warranties and covenants, including non-competition covenants. Under the terms of the Purchase Agreement, the purchase price for both companies’ assets is $2,269,000, of which $1,519,000 was paid at closing, $375,000 was paid into escrow subject to a 90-day purchase price adjustment process, and $375,000 was paid into escrow to be available to

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5 m&a transactions filed in the last 30 days. Browse all m&a transactions →

INTERLINK ELECTRONICS INC filing history →

Source: SEC EDGAR

accession 0001104659-22-129498

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