- Published: 24 March 2014 24 March 2014
NEC Corporation has announced the acquisition of the A123 Energy Solutions business unit of A123 Systems, LLC.
This acquisition, for approximately US$ $100 million, strengthens the energy storage capability of NEC’s smart energy business. A123 Energy Solutions will be integrated into the NEC Group of companies and operated globally as a key element of its business. An agreement on the terms of the deal has been finalized and a new company “NEC Energy Solutions” is slated to begin operation in June 2014 under the direction of NEC. A123’s existing cell manufacturing and sales, research and development and automotive operations will remain the core focus of A123 Systems, LLC.