Tesla is buying up Maxwell Technologies. In a deal expected to be finalized in the second quarter of 2019, the California automaker has offered $4.75 per share for the company. That's a healthy 55-percent increase above the energy storage technology company's share price of $3.07 at Friday's market closing. The transaction is said to take the form of a stock swap and received unanimous approval from the Maxwell board.
The acquisition is an interesting one. Maxwell is mostly known for its ultracapacitors, which are used by other automakers. Indeed, Volvo's Chinese parent company Geely partnered with the firm to use the energy storage devices in five of its hybrid products. But does that mean Tesla has picked them up for that particular technology? Maybe, but it should be noted that Maxwell, which has a footprint in Germany, South Korea, China, as well as the United States, has other tech that makes it valuable.