Business
Interlink Announces Acquisition of SPEC Sensors and KWJ Engineering
IRVINE, Calif., Dec. 19, 2022 /PRNewswire/ -- Interlink Electronics, Inc. (Nasdaq: LINK) announced today that it has acquired the businesses of SPEC Sensors
About this update from Interlink Electronics, Inc.
[{"type":"text","content":"IRVINE, Calif., Dec. 19, 2022 /PRNewswire/ -- Interlink Electronics, Inc. (Nasdaq: LINK) announced today that it has acquired the businesses of SPEC Sensors and KWJ Engineering (\"SPEC/KWJ\"), two industry-leading designers and manufacturers of gas, air and environmental quality sensors, for approximately $2 million.\n\n \n \n \n \n \n \n\n \n\"We are excited to add SPEC and KWJ to Interlink's already-robust sensors portfolio and capabilities,\" said Steven N. Bronson, Chairman, President, and CEO of Interlink. \"We view this as the first of many acquisitions that will enable Interlink to create a world-class diversified portfolio of cutting-edge sensor technologies.\"\nSPEC/KWJ bring with them a multi-decade portfolio of gas sensor intellectual property as well as an accomplished engineering and product development team. SPEC/KWJ's trailing twelve months revenue was over $4 million through November 2022.\n\"This acquisition meaningfully advances Interlink's resources and product offerings, gives us a significant presence in Silicon Valley and adds engineering talent and intellectual property in gas and air quality sensing that is difficult to replicate,\" said Mr. Bronson.\nEd Stetter, CEO of SPEC and KWJ added \"Our team is very excited to join the Interlink family, and we look forward to building on our history and leveraging Interlink's expertise and global reach to expand our markets and our product offerings.\"\nForward Looking Statements\nThis release contains forward-looking statements. Forward-looking statements include, but are not limited to, the company's views on future acquisitions and expansion of markets and product offerings, and are generally identified by phrases such as \"thinks,\" \"anticipates,\" \"believes,\" \"estimates,\" \"expects,\" \"intends,\" \"plans,\" and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the company's industry, R&D initiatives, competition and capital requirements. Other factors and uncertainties that could affect the com...