Mycronic acquires Shenzhen Axxon Automation Co.,Ltd
Täby, 1 August, 2016 – Mycronic AB (publ), has signed an agreement to acquire 75 percent of Shenzhen Axxon Automation Co.,Ltd (Axxon) for a cash consideration of approximately SEK 430 million. The acquisition will be financed through own funds. As part of the agreement Mycronic will acquire the remaining shares of the company in two steps – an additional 5 percent will be acquired within this year and the last 20 percent after three years. The purchase price for the last part after three years will be set based on parameters such as growth and earnings, which may include changes compared to