taiwans-eton-in-us-acquisition

Taiwan's E-Ton in US acquisition

E-Ton Solar Tech acquires Adema Technologies for $154 million to secure a supply of high-quality raw materials.
Taiwan's E-Ton Solar Tech will acquire Adema Technologies, which has operated from its base in California since 2000, for $154 million.

Adema supplies monocrystalline silicon ingots for the solar-power industry and produces large-diameter ingots for semiconductor manufacturing.

E-Ton will pay around $55 million by way of a stock swap and the balance through a private placement of equity, explains E-Ton's CFO Reynold Hsu in an exclusive interview to FinanceAsia.

Details of Adema's financials were not disclosed because it is a privately held company, wholly owned by founder George Fiegl, but sources close to the deal said it earned a revenue of $33 million for the latest financial year. This suggests a price to...
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