SEALSQ (LAES) said Thursday it is negotiating a deal to acquire IC'ALPS following its letter of intent.
The transaction is conditional on appropriate due diligence, execution of definite agreements, and approval by French regulatory authorities, according to SEALSQ.
Completion of the deal will expand SEALSQ's workforce by about 100 of IC'ALPS' staff working in Grenoble and Toulouse, SEALSQ added.
Shares of the company were up 2% in recent trading.
Price: 3.15, Change: +0.06, Percent Change: +1.94
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.