Maxwell Technologies Announces Agreement for Sale of Microelectronics Product Line

SAN DIEGO - Maxwell Technologies, Inc. (NASDAQ: MXWL), a leading developer and manufacturer of ultracapacitor-based energy storage and power delivery solutions, today announced that it has entered into a definitive agreement to sell its microelectronics product line to Data Device Corporation, a subsidiary of ILC Industries, Inc. The agreement includes all assets and certain liabilities related to the microelectronics product line.

Gross proceeds from the transaction are expected to be $21 million in cash. The purchase price is subject to working capital and closing transaction adjustments. The sale transaction is expected to close by the end of April 2016, subject to customary and negotiated closing conditions.

About Maxwell:
Maxwell is a global leader in the development and manufacture of innovative, cost-effective energy storage and power delivery solutions. Our ultracapacitor products provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation and telecommunications. Our high-voltage grading and coupling capacitors help to ensure the safety and reliability of electric utility infrastructure and other applications involving transport, distribution and measurement of high-voltage electrical energy. Our radiation-mitigated microelectronic products include power modules, memory modules, and single board computers that incorporate powerful commercial silicon for superior performance and high reliability in aerospace applications. For more information, please visit our website: www.maxwell.com.

Source 
Maxwell Technologies, Inc.

Web Site: http://www.maxwell.com

Maxwell was founded as Maxwell Laboratories in 1965. In 1983, Initial public offering of Maxwell common stock. Then it merged with S-Cubed, Inc. Maxwell acquired I-Bus industrial computing business in 1990 and acquired Sierra components business in 1991. In 1996, Maxwell changed name to Maxwell Technologies Inc. In 1998, Maxwell acquired Physics International government contracting business and Tri-Map computing business in UK. Maxwell divested original government contracting business to focus on commercial products in 2001 and acquired Montena Components SA, located in Rossens, Switzerland in 2002. Maxwell is a leading developer and manufacturer of innovative, cost-effective energy storage and power delivery solutions. Maxwell is recognized as a global leader in ultra capacitor design and manufacturing. Maxwell is also the world's largest supplier of high-voltage grading and coupling capacitors for electric utility infrastructure and a leading developer and manufacturer of radiation hardened microelectronics for space and military applications. In 2006, Maxwell formed a manufacturing alliance with Belton Technology Group for assembly of BOOSTCAP® ultra capacitor products in China. In 2003, Montena Components SA becomes Maxwell Technologies SA and celebrates its 100th anniversary. The BOOSTCAP® ultra capacitor cells and multi-cell packs and modules provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation and telecommunications. Maxwell's company culture is ideally suited to people with a “can do” attitude, who enjoy working creatively and collaboratively to shape, promote and sell innovative technologies into the real world. At Maxwell, everyone has an important role to play in the success of the company....

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