Foley Hoag Represents Automation Engineering in $35M Acquisition by Mycronic
November 28, 2016
Foley Hoag LLP recently represented Automation Engineering, Inc. (AEi), the leader in camera module solutions and lens alignment, in its $35 million acquisition by Swedish high-tech company Mycronic AB. An earnout at a maximum amount of $27.0 million is expected to be paid over two years, contingent upon certain conditions such as growth and earnings parameters.
Headquartered in Wilmington, Mass. with subsidiaries in Germany and Hong Kong, AEi develops, manufactures and sells innovative and market-leading solutions for precision Camera Module Assembly and Test (CMAT) systems used in electronics products. Its largest customer segment is the automotive industry, which is experiencing significant demand growth for cameras in ADAS (Advanced Driver Assistance Systems) applications. The acquisition complements Mycronic’s product portfolio through AEi’s leading position in camera assembly systems.
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