Palo Alto, CA – Dec. 31, 2008 – Pelikon Limited, a developer of printed segmented electroluminescent (pSELTM) displays and keypads, has announced its acquisition by Multi-Fineline Electronix (“MFLEX”), a provider of flexible printed circuit and component assembly services to the electronics industry. MFLEX said it will pay for the London-based Pelikon in two-year promissory notes worth approximately $10.7M. Also included in the deal, $9.43 in possible earnout, dependent on sales milestones. Pelikon’s 22 employees produce units used in reconfigurable keypads for mobile devices, home appliances, and control panels. MFLEX will use Pelikon’s products and expertise to complement its own capabilities in flexible printed circuitry.
Woodside Capital Partners served as the exclusive financial advisor to PELIKON LTD. in this transaction.
About Pelikon Ltd.
Pelikon, Ltd. provides morphing keypad solutions. It offers animated backlites and panels, as well as display products. The company also provides liquid crystal displays, display drivers, and display controllers. Its products are used in various applications, such as portable devices, home appliances, control panels, fitness equipment, and mobile phones. Pelikon, Ltd. was formerly known as Elumin, Ltd. The company was incorporated in 1999 and is based in Cambridge, the United Kingdom. It has sales offices in North America, China, and Japan. As of December 10, 2008, Pelikon Ltd. operates as a subsidiary of Multi-Fineline Electronix Singapore Pte., Ltd.
MFLEX has become one of the largest global flexible circuit manufacturers & assemblers. We operate six plants spanning over one-million square feet and maintain a prestigious list of satisfied customers in the North American, Asian, and European continents. Our colleagues deliver exceptional value and customer service to our prominent portfolio of global, technology-driven clients.
About Woodside Capital Partners
Woodside Capital Partners is a global, independent investment bank that delivers world-class strategic and financial advice to emerging growth companies in the technology and life sciences sectors. With a strong track record in M&A, strategic partnerships and private placements, Woodside Capital Partners has been providing worldwide investment banking services since 2001, with leading domain experience in software, Internet services, electronic communications and materials, and healthcare. Woodside Capital Partners is headquartered in Silicon Valley, with an office in London. Securities offered through Woodside Capital Securities LLC, member FINRA/SIPC. For more information, please visit www.woodsidecap.com.