Abstract
On 5th March, 2008, A123 Systems announced its' most recent business deal. The announcement made it clear that, A123 Systems was going to receive an investment worth $20 million (approx.) from GE Energy Financial Services.
A123 Systems Business Deals refer to the business deals made by A123 Systems. Here, by business deals we not only mean merger deals or acquisition deals, but also IPO (Initial Public Offering) deals and investment deals.
The most recent business deal of A123 Systems was announced on 5th March 2008. The announcement revealed that A123 Systems was going to receive a huge investment worth $20 million from GE (General Electric).
Company Profile
A123 Systems is a world leader in manufacturing superior quality lithium-ion batteries. The company runs its' manufacturing operations at the global level and possesses an efficient automotive lithium ion research and development team.
A123 Systems was established in 2001. The headquarters of A123 Systems is situated at Massachusetts.
Details of the Deal
Through this investment deal, GE Energy Financial Services, the financial services segment of GE has invested more than $20 million in A123 Systems. After making this huge investment, GE has become A123 Systems' largest cash investor.
After completion of the investment deal, A123 Systems would carry out research and technology development work, with the help of GE experts in Global Research Center of Niskayuna, New York.
This joint research work would help A123 Systems in its' battery development. It can be mentioned here, that, A123 Systems has signed a commercial agreement to supply lithium-ion battery to Think, the leading manufacturer of environment-friendly vehicles.
In respect of this investment deal, David Vieau, CEO and President of A123 Systems, stated that, the joint research work by A123 Systems and GE Global Research Center would help A123 Systems to accelerate the supply of lithium-ion batteries to Think. He also opined that, the investment deal of $20 million (approx.) would further help A123 Systems, to involve in large scale production of batteries.