Electronics Production | June 12, 2006
Elron to raise $14 million
Israel based Elron Electronic Industries Ltd. today announced that A.M.T. - Advanced Metal Technologies Ltd, an Elron group company, has completed a $14 million financing led by Shamrock Israel Growth Fund, an Israeli private equity fund.
Elron is investing an aggregate of $5 million in this financing round in which other existing shareholders also participated. Following the transaction, Elron will hold approximately 34% of the outstanding equity of AMT. Doron Birger, President & CEO of Elron commented: "This private placement provides AMT with the necessary resources to accelerate its growth in its various activities and to build AMT into a successful company." AMT develops, markets and licenses advanced technologies for amorphous and nano-crystalline materials, for a wide range of commercial applications. AMT operates together with its group companies, creating innovative solutions for applications mainly for electrical heating, sensoring (authentication and coding solutions), electronic shielding and electronic components. Elron is a company in development of defense electronics, communications, semiconductors and medical imaging technologies. In recent years Elron has focused on defense electronics, information technology, software products, communication, medical devices and amorphous metals.
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