IRVINE, Calif., Dec. 19, 2022 /PRNewswire/ -- Interlink
Electronics, Inc. (Nasdaq: LINK) announced today that it has
acquired the businesses of SPEC Sensors and KWJ Engineering
("SPEC/KWJ"), two industry-leading designers and manufacturers of
gas, air and environmental quality sensors, for approximately
$2 million.
"We are excited to add SPEC and KWJ to Interlink's
already-robust sensors portfolio and capabilities," said
Steven N. Bronson, Chairman,
President, and CEO of Interlink. "We view this as the first of many
acquisitions that will enable Interlink to create a world-class
diversified portfolio of cutting-edge sensor technologies."
SPEC/KWJ bring with them a multi-decade portfolio of gas sensor
intellectual property as well as an accomplished engineering and
product development team. SPEC/KWJ's trailing twelve months revenue
was over $4 million through
November 2022.
"This acquisition meaningfully advances Interlink's resources
and product offerings, gives us a significant presence in Silicon
Valley and adds engineering talent and intellectual property in gas
and air quality sensing that is difficult to replicate," said Mr.
Bronson.
Ed Stetter, CEO of SPEC and KWJ
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."
Forward Looking Statements
This release contains forward-looking statements.
Forward-looking statements include, but are not limited to, the
company's views on future acquisitions and expansion of markets and
product offerings, and are generally identified by phrases such as
"thinks," "anticipates," "believes," "estimates," "expects,"
"intends," "plans," and similar words. 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 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.
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 like the VersaPad and the new VersaPad Plus,
which boasts the largest active surface area of any resistive
touchpad. 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. Interlink serves an international customer base
from its headquarters in Irvine,
California, and its world-class materials science lab and
R&D center in Camarillo,
California. They are supported by strategic global locations
covering manufacturing, distribution, and sales support. For more
information, please visit InterlinkElectronics.com.
Contact:
Interlink Electronics, Inc.
IR@iefsr.com
Steven N. Bronson, CEO
805-623-4184
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SOURCE Interlink Electronics