Hydrogen fuel cell systems developer Plug Power Inc. (PLUG) recently revealed that it has entered into a definitive agreement to acquire turnkey systems integration provider Frames Group for $115 million. The deal is likely to close by the end of 2021. Following the news, shares of the company declined 4.4% to close at $38.95 in the extended trading session. Terms of the Deal Plug Power will carry out the transaction with €85 million ($98.46 million) in cash and €30M ($34.75 million) in earnouts. Implications of the Deal With this buyout, Plug Power strengthens its presence in Europe.
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Plug Power (NASDAQ:PLUG)
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