Tesla to buy energy tech company Maxwell Technologies

The deal represents a 55% premium over Maxwell’s closing stock price

Tesla plans to acquire energy technology company Maxwell Technologies for about $218 million, the company said Monday. Tesla will buy the company’s 45.9 million shares for $4.75 a share in an all-stock transaction. The deal represents a 55 percent premium over Maxwell’s closing stock price of $3.07 a share Friday and would value the company at around $218 million. 

Maxwell makes ultracapacitors, devices that can store and rapidly deliver surges of energy. Tesla CEO Elon Musk is a fan of the technology for electric cars. Musk has said in the past that the technology could be a more likely source of a breakthrough in electric vehicle technology than batteries. Musk even once said on Twitter that he had planned to conduct research on them at Stanford University.

http://cnbc.com

Leave a Reply