Maxwell Technologies has entered into a definitive agreement to be acquired by Tesla.
Tesla will commence an all-stock exchange offer for all the issued and outstanding shares of the Company after which the Company will be merged with a Tesla subsidiary and become a wholly owned subsidiary of Tesla.
Maxwell is a provider of innovative, cost-effective energy and power delivery solutions. The company has developed and transformed its patented, proprietary and fundamental dry electrode manufacturing technology to make ultracapacitors and create a breakthrough technology that can be applied to the manufacturing of batteries.
The company’s ultracapacitor products claim to provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation, renewable energy, and information technology.
Source: Press Release