IRVINE,
Calif., March 20, 2023 /PRNewswire/ -- Interlink
Electronics, Inc. (Nasdaq: LINK) announced today that it has
acquired all of the stock of Calman Technology Limited, an
independent company based outside Glasgow, Scotland, with over 25 years of
experience in the design and manufacture of membrane keypads,
graphic overlays and printed electronics. The purchase price was
approximately $5.0 million.
"We are excited to add Calman's products, customers and
manufacturing capabilities to Interlink's robust sensors portfolio
and resources," said Steven N.
Bronson, Chairman, President, and CEO of Interlink. "As the
second acquisition in the last three months, we view this as
further validation of our acquisition program to expand upon
Interlink's world-class diversified portfolio of cutting-edge
sensor and printed electronic technologies."
Calman has decades of experience in membrane switches and
printed electronics as well as an accomplished engineering and
product development team. The company's 12 months revenue to
September 30, 2022 was approximately
$3.1 million. Completing this
acquisition brings Interlink's estimated annual revenue run rate up
to approximately $14 million,
compared to approximately $7.5
million for 2022.
"This acquisition meaningfully advances Interlink's resources
and product offerings and gives us a significant presence in
Scotland that allows us to
complement our manufacturing capabilities in China and expand our sales program into
Europe. With Calman, we add
engineering talent and know-how in printed electronics that is
difficult to replicate. Additionally, Interlink will now have the
opportunity to capitalize on customer requests for products
integrating both Interlink's sensors and Calman's membrane
switches," said Mr. Bronson.
John Dobson, CEO of Calman, added
"Our team is very excited to join the Interlink family, and we look
forward to building on our history and leveraging Interlink's
expertise and global reach to expand our markets and our product
offerings."
About Interlink Electronics, Inc.
Interlink Electronics is a world-leading trusted HMI, sensor,
and IoT solutions provider. In addition to standard product
offerings, Interlink utilizes its expertise in materials science,
manufacturing, firmware, and software to produce in-house system
solutions for custom applications. For 35 years, Interlink has led
the printed electronics industry to commercialize its patented
Force Sensing Resistor® technology. It has supplied some of the
world's top electronics manufacturers with intuitive sensor and
interface technologies. It also has a proven track record of
supplying technological solutions for mission-critical applications
in a diverse range of markets - including medical, automotive,
consumer electronics, telecommunications, and industrial control -
providing standard and custom-designed sensors that give engineers
the flexibility and functionality they seek in today's
sophisticated electronic devices.
With our acquisition in December
2022 of SPEC Sensors and KWJ Engineering, we also offer
industry-leading design and manufacture of electrochemical
gas-sensing technology for industry, community, health and home,
providing custom solutions, advanced sensors, innovative products
and unique services with uses in fields such as carbon monoxide and
ozone detection and air quality monitoring.
Interlink serves an international customer base from its
headquarters in Irvine,
California, its world-class materials science lab and
R&D center in Camarillo,
California and the SPEC-KWJ advanced engineering and
manufacturing facility in Silicon Valley. They are supported by
strategic global locations covering manufacturing, distribution,
and sales support. For more information, please visit
InterlinkElectronics.com.
Forward Looking Statements
This release contains "forward-looking statements" within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements can be
generally identified by phrases such as "thinks," "anticipates,"
"believes," "estimates," "expects," "intends," "plans," and similar
words. Forward-looking statements in this press include statements
about our acquisition program, our projected annual revenue run
rate, and the effects of the Calman acquisition, including
contributions to our products, manufacturing operations and the
markets we serve. Forward-looking statements are not guarantees of
future performance and are inherently subject to uncertainties and
other factors which could cause actual results to differ materially
from the forward-looking statement. These statements are based
upon, among other things, assumptions made by, and information
currently available to, management, including management's own
knowledge and assessment of the company's industry, R&D
initiatives, competition and capital requirements. Other factors
and uncertainties that could affect the company's forward-looking
statements include, among other things, the following: our ability
to integrate Calman's operations; our success in predicting new
markets and the acceptance of our new products; efficient
management of our infrastructure; the pace of technological
developments and industry standards evolution and their effect on
our target product and market choices; the effect of outsourcing
technology development; changes in the ordering patterns of our
customers; a decrease in the quality and/or reliability of our
products; protection of our proprietary intellectual property;
competition by alternative sophisticated as well as generic
products; continued availability of raw materials for our products
at competitive prices; disruptions in our manufacturing facilities;
risks of international sales and operations including fluctuations
in exchange rates; compliance with regulatory requirements
applicable to our manufacturing operations; and customer
concentrations. Additional factors that could cause actual results
to differ materially from those anticipated by our forward-looking
statements are under the captions "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in our most recent Annual Report (Form 10-K) or
Quarterly Report (Form 10-Q) filed with the Securities and Exchange
Commission. Forward-looking statements are made as of the date of
this release, and we expressly disclaim any obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Contact:
Interlink Electronics, Inc.
IR@iefsr.com
Steven N. Bronson, CEO
805-623-4184
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SOURCE Interlink Electronics