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Electronics Production |
Inission acquires Lithuanian EMS provider Selteka
Swedish EMS provider Inission continues to expand, this time through the acquisition of Lithuanian EMS provider UAB Selteka.
Inission has signed an agreement to acquire 100% of UAB Selteka with operations located in Kaunas, Lithuania. Through the acquisition, Inission expands its geographical presence in the Baltics and thereby strengthens its position in Northern Europe.
According to the agreement, the price for 100% of the shares in Selteka amounts to EUR 8 million. The payment for the shares upon takeover is financed with a bank loan of EUR 4 million, EUR 2 million in cash and payment with own newly issued shares corresponding to EUR 2 million.