908 Devices Acquires RedWave Technology For Initial Payment Of $53.5M And Up To An Additional 4M Shares Of Contingent Consideration; RedWave Had 2023 Unaudited Revenue Of $13.7M
Portfolio Pulse from Benzinga Newsdesk
908 Devices Inc. has acquired RedWave Technology for an initial payment of $53.5 million, with the potential for an additional 4 million shares of contingent consideration. RedWave reported unaudited revenue of $13.7 million for 2023.
April 30, 2024 | 11:38 am
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908 Devices Inc. has expanded its portfolio by acquiring RedWave Technology, indicating a strategic move to enhance its market position and product offerings.
The acquisition of RedWave Technology by 908 Devices Inc. is a significant strategic move, likely to enhance the company's product offerings and market position. The initial payment of $53.5 million, with an additional up to 4 million shares of contingent consideration, reflects the value and potential 908 Devices sees in RedWave. RedWave's unaudited 2023 revenue of $13.7 million further underscores the financial potential of this acquisition. This move is expected to be viewed positively by investors, potentially leading to a short-term uptick in MASS's stock price.
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