Interlink Electronics, Inc. (Nasdaq: LINK) announced today that it has acquired all of the stock of Calman Technology Limited, an independent company based outside Glasgow, Scotland, with over 25 years of experience in the design and manufacture of membrane keypads, graphic overlays and printed electronics. The purchase price was approximately $5.0 million.
“We are excited to add Calman’s products, customers and manufacturing capabilities to Interlink’s robust sensors portfolio and resources,” said Steven N. Bronson, Chairman, President, and CEO of Interlink. “As the second acquisition in the last three months, we view this as further validation of our acquisition program to expand upon Interlink’s world-class diversified portfolio of cutting-edge sensor and printed electronic technologies.”
Calman has decades of experience in membrane switches and printed electronics as well as an accomplished engineering and product development team. The company’s 12 months revenue to September 30, 2022 was approximately $3.1 million. Completing this acquisition brings Interlink’s estimated annual revenue run rate up to approximately $14 million, compared to approximately $7.5 million for 2022.
“This acquisition meaningfully advances Interlink’s resources and product offerings and gives us a significant presence in Scotland that allows us to complement our manufacturing capabilities in China and expand our sales program into Europe. With Calman, we add engineering talent and know-how in printed electronics that is difficult to replicate. Additionally, Interlink will now have the opportunity to capitalize on customer requests for products integrating both Interlink’s sensors and Calman’s membrane switches,” said Mr. Bronson.
John Dobson, CEO of Calman, added “Our team is very excited to join the Interlink family, and we look forward to building on our history and leveraging Interlink’s expertise and global reach to expand our markets and our product offerings.”
