Date: Feb 13, 2013 Source: bizjournals (
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RTI International spinoff Nextreme Thermal Solutions has been acquired by Laird Technologies (PNK: LSE).
Laird will acquire 100 percent of the equity of Nextreme for $1 up front, but could potentially pay up to $60 million depending on revenue. Per the terms of the deal, Laird will pay 40 percent of total revenue over a four-year period starting in 2014, capped at $60 million if revenue tops $150 million.
In 2013, Nextreme is expected to record a net loss of $3 million as the company moves from technology investment to mass production, according to Laird.
Nextreme, which develops technology in thermoelectrics, was spun out in 2004. Since then, it has focused on commercializing micro-scale electronics - cooling and energy-harvesting products for telecommunications, semiconductor, consumer, medical, aerospace and government markets.
Its early technology was funded by the Defense Advanced Research Projects Agency, among others.
Laird Technologies, based in Earth City, Mo., designs and supplies components and systems for advanced electronics.
Nextreme is based in Durham.
Staff Writer Jason deBruyn contributed to this report.
