Foley Hoag Represents Automation Engineering in $35M Acquisition by Mycronic

November 28, 2016

Foley Hoag LLP recently represented Automation Engineering, Inc. (AEi), the leader in camera module solutions and lens alignment, in its $35 million acquisition by Swedish high-tech company Mycronic AB. An earnout at a maximum amount of $27.0 million is expected to be paid over two years, contingent upon certain conditions such as growth and earnings parameters.

Headquartered in Wilmington, Mass. with subsidiaries in Germany and Hong Kong, AEi develops, manufactures and sells innovative and market-leading solutions for precision Camera Module Assembly and Test (CMAT) systems used in electronics products. Its largest customer segment is the automotive industry, which is experiencing significant demand growth for cameras in ADAS (Advanced Driver Assistance Systems) applications. The acquisition complements Mycronic’s product portfolio through AEi’s leading position in camera assembly systems.

Foley Hoag attorneys Mark Haddad, Alex Khalarian, Craig Randall and Nick Romanos advised AEi in the transaction. Donnelly Penman & Partners acted as the exclusive investment banking advisor to AEi.

About Foley Hoag LLP

Foley Hoag provides innovative, strategic legal services to public, private and government clients across the globe. We have premier capabilities in the life sciences, healthcare, technology, energy, professional services and investment management fields, and in cross-border disputes. Our professionals  possess the skills  and experience to provide exceptional senior level service to clients ranging from startups to multinational companies to sovereign states. For more information, visit www.foleyhoag.com or follow @FoleyHoag on Twitter.