By Mitchell Young
NEW HAVEN: Assa Abloy of the Americas, headquartered on Sargent Drive announced it is buying San Francisco based smart lock maker August Home to increase its portfolio of new lock tech.
Assa Abloy [STO: ASSA-B] generates more than $8 billion [US] in global sales, August Home is estimated to have approximately $60 million in revenue and, 100 employees, Assa 47,000.
The terms of the deal were not announced yet, but is expected to close in 2017. It will likely look like a deal too good, for the founders to pass up, as the company announced a $25 million in new investment, [$75 million in total investment] just this past July with proceeds to help expand its retail and service business lines.
Danbury: FuelCell Energy Inc. [Nasdaq: FCEL] stock went on a world wind trip this week losing 10% of it value on a single day May 2. The stock closed at $1.08 as 2.81 million shares changed hands, nearly twice the daily average.
A day later the company added $15.4 million to its coffers with a public underwriting.
The past year has been difficult for Fuel Cell Energy, its large Korean Partner POSCO ENERGY is retrenching and Fuel Cell will be picking up the load of marketing in Asia.
At home New England power producers didn’t agree to a power purchase agreement for the company’s planned construction of the largest Fuel Cell Plant in the country to be built in Beacon Falls.