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Maxwell acquires Nesscap energy business

Maxwell Technologies has completed its acquisition of substantially all of the assets and business, including the operating entities, of Nesscap Energy, Inc.
"We are pleased to have brought the acquisition to completion and are excited to add Nesscap's deep bench of talent to the Maxwell team. Nesscap's industry leading small and medium cell ultracapacitor technology complements Maxwell's leadership in large cells, creating an expanded and strengthened product portfolio. With our combined development pipeline, we will be able to deliver more products and technologies faster to our global customer base," said Dr. Franz Fink, Maxwell's President and CEO. "The completion of this acquisition marks an important step for Maxwell in its plan to achieve growth and profitability, as it puts our ultracapacitor product line on a solid foundation and provides needed scale as we move towards our inflection point in late 2018. With the acquisition now finalized, our integration teams are working together and we believe we will identify additional opportunities to further accelerate and grow our opportunity pipeline," added Fink.

The Nesscap business includes research, development and manufacturing of energy storage and power delivery solutions with operations in Korea, Germany, and China.

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September 15 2017 9:25 AM V8.7.1-2