Averna Expands Its Asian And North American Footprint With The Acquisition Of Global Equipment Services, Inc. From Kimball Electronics; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Averna has acquired Global Equipment Services, Inc. (GES) from Kimball Electronics, Inc. (NASDAQ: KE), expanding its footprint in Asia and North America. The acquisition will add 600 new employees across offices in Vietnam, China, India, Japan, and Silicon Valley. Financial terms were not disclosed.
August 01, 2024 | 1:23 pm
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Kimball Electronics, Inc. (NASDAQ: KE) has sold its division, Global Equipment Services, Inc. (GES), to Averna. This move will allow KE to potentially streamline its operations and focus on its core business areas.
The sale of GES allows Kimball Electronics to focus on its core business areas, which could be seen positively by investors. The addition of 600 new employees and expansion into key markets by Averna also indicates a strategic move that could benefit both companies.
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