Monday, March 26, 2007

Mesoscopic Devices Acquired In $12.4M Deal

Broomfield, Colorado-based Mesoscopic Devices, a developer of solid oxide fuel cell technology, has been acquired. Southborough, Mass.-based Protonex Technology said this morning it will pay $12.4M, consisting of $3.2M in cash plus the balance in common shares of its stock, for Mesoscopic. Mesosocopic Devices is developing fuel cell power solutions for the government, military and commercial customers including the US Army, US Navy, DARPA and NASA. According to Protonex, Mesoscopic had revenues of $3.2M for the year 2006.