Brief: GSI Technology buys MikaMonu in a deal valued at $5 million
23/11/2015 21:30
Nov 23 (Reuters) - GSI Technology Inc GSIT.O : * Acquires mikamonu * Says deal valued at $5 million * Says acquisition is expected to be accretive to Gsi technology's net income in fiscal 2019 * Says will pay the former mikamonu shareholders up to an additional $2.5 million in cash over a four-year period * Acquisition is expected to be accretive to Gsi technology's net income in fiscal 2019 * Says mikamonu will continue to conduct its operations in Israel as a wholly-owned subsidiary of Gsi Technology * Says initial products are expected to be introduced in late 2017 * Payment of additional cash conditioned on the continued employment of avidan akerib, mikamonu's co-founder and chief technologist * Source text for Eikon ID:nMKWbdPpCa * Further company coverage GSIT.O ((Bengaluru Newsroom; +1 646 223 8780))