123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Technology,-Gadget-and-Science >> View Article

Tesla Acquires Maxwell Technologies For Usd218 Million

Profile Picture
By Author: James
Total Articles: 13
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

American electric auto manufacturer Tesla acquired San Diego-headquartered energy storage maker Maxwell Technologies in an all-stock deal worth USD218 million.

In a press release, Maxwell Technologies stated that Tesla will begin an all stock exchange offer for all the issued and outstand shares of the company, after which Maxwell will be merged with a Tesla arm and become a completely-owned arm of Tesla.

The deal will value each of Maxwell Technologies’ 45.9 million shares at USD 4.75, the press release also added.

Even as there can be no assurances on the closing date, the company expects that the merger will be completed in the second quarter of 2019 after meeting all conditions and timing of the approvals.

Franz Fink, president and chief executive at Maxwell, stated that the company is excited with the present day’s announcement that Tesla has accorded to acquire Maxwell.

Maxwell was represented by DLA Piper outside legal counsel and Barclays Capital served as independent advisor to the company in regard to the deal. Tesla was represented by Wilson Sonsini Goodrich & Rosati as outside ...
... legal counsel.

In January, Maxwell officials told investors that it had developed and patented a dry electrode technology that could considerably enhance the driving range and diminish the cost of electric vehicle batteries.

The company also manufactures ultracapacitors that discharge energy faster compared to batteries and regarded as complementing battery technology.

Combined with the energy of batteries, ultracapacitors function across a wider temperature range and enhance battery life by up to two times, as per a blog post of the website of Maxwell.

Tesla also sells power storage and ultracapacitors could be utilized in backup systems for house and for utility power grids.

Total Views: 322Word Count: 272See All articles From Author

Add Comment

Technology, Gadget and Science Articles

1. Extract Restaurant Info From Lieferando Germany For Market Insights
Author: Food Data Scrape

2. Erp For Small Business: Unlock Growth & Beat Your Rivals
Author: Alex Forsyth

3. Gain Sneaker Listings With Poizon Sneaker Data Scraping
Author: Retail Scrape

4. How Can A Doordash Dataset Help Data-driven Strategic Business Insights?
Author: Mobile App Scraping

5. Ai Creativity And The Rise Of Ai Art Generators | Impaakt
Author: Impaakt Magazine

6. Scrape Footlocker Product Data For Resale Success
Author: Actowiz Solutions

7. The Science Behind Nano Coating For Textiles And Sofas
Author: Vetro Power

8. Fabric Protection For Sofas_ A Profitable Value-add For Furniture Manufacturers
Author: Vetro Power

9. How Fabric Protection Can Extend The Life Of Your Commercial Spaces
Author: Vetro Power

10. Challenges In Integrating Organizational Change With Crm
Author: DialDesk

11. Insurance Portal Development: Key Features To Stay Ahead Of The Competition
Author: crmjetty

12. Amazon Usa | How Review Scraping Boosted Tech Brand Cx
Author: Mellisa Torres

13. How Does Web Scraping Help With Accurate Uber Eats Menu Price Tracking Methods?
Author: Retail Scrape

14. Scraping Zomato Data Uttarakhand: Food Insights Guide
Author: Actowiz Solutions

15. Why Enseur Is Among The Best Event Ticketing Platforms For Seamless Event Success
Author: Enseur Tech

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: