Home / M&A Activity / EMCORE Shareholders OK Space Photovoltaic Tech Portfolio Sale

EMCORE Shareholders OK Space Photovoltaic Tech Portfolio Sale

acquisitionShareholders at EMCORE Corp. have approved the sale of the company’s space solar cells business to Veritas Capital affiliate SolAero Technologies.

EMCORE said Friday its stockholders voted at a special meeting to approve the transaction.

The Albuquerque, New Mexico-based semiconductor firm announced the $150 million cash deal in September and expects to wrap up the sale by Wednesday.

Veritas Capital invests in companies that develop technology offerings for the aerospace, defense, national security, communications, healthcare, education, communications and energy industries.

Check Also

L3 to Update Navy Submarine Sensor Under Potential $74M Contract

L3 Technologies (NYSE: LLL) has secured a potential six-year, $73.7M contract to update, repair and overhaul submarine photonics masts used on U.S. Navy submarines. The service branch will obligate $2.1M in fiscal 2019 other procurement funds at the time of award, the Department of Defense said Monday.

TCOM Wins Potential $979M Army Tethered Aerostat Support Contract

Airborne surveillance systems provider TCOM has won a potential five-year, $978.9M contract to help the U.S. Army engineer, and operate low-altitude aerostats that are intended for intelligence, surveillance and reconnaissance missions.