Valence To Buy Lith-ion Polymer Technology.
NEW YORK-Seeking to become a dominant player in the emerging lithium-ion polymer battery field, Valence Technology Inc. plans to buy all rights to this technology that now are held by Telcordia Technologies Inc., formerly Bellcore.
Valence, with facilities in Henderson, Nev., and Mallusk, Northern Ireland, will issue 3 million new shares of its common stock to pay for the purchase. Late in the Nasdaq trading day on Nov. 9, the date of the announcement, Valence's stock had risen to $17.87, up $3.31 per share from the prior day's closing price.
"Valence will be transforming itself into a licenser of this technology, similar to the Qualcomm licensing model, licensing its technology to battery manufacturers worldwide," the company said.
|<< PREVIOUS||NEXT >>|
blog comments powered by Disqus