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Maxwell Technologies Inc. Completes Sale of Product Line

Maxwell Technologies Inc., a San Diego-based energy storage firm, announced the completion of the sale of its microelectronics product line to Data Device Corp., a subsidiary of ILC Industries Inc.

The transaction price was $21 million in cash and Canaccord Genuity acted as Maxwell’s financial advisor.

According to a news release from Maxwell, the sale included all assets and certain liabilities related to the product line. Also, 37 employees from Maxwell transitioned to Data Device Corp., a New York-based manufacturer and supplier of data networking and power technologies.

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