JASPER, IN -- Kimball Electronics announced today that it has signed an agreement to purchase substantially all of the assets and assume certain liabilities of GES Holdings, Global Equipment Services and Manufacturing, and its subsidiaries for approximately $50 million plus assumed liabilities, subject to certain post-closing working capital adjustments.

The transaction is also subject to customary closing conditions, regulatory requirements, and governmental approvals. The transaction is expected to close in the first quarter of Kimball’s fiscal year 2019.

“The acquisition is a significant step in our new platform strategy and our plans to continue our development beyond EMS to a multifaceted manufacturing solutions company,” said Donald D. Charron, chairman and CEO, Kimball Electronics, in a press release.

San Jose-based GES specializes in production processing and test equipment design, volume manufacturing, and global services for the semiconductor and electronics product manufacturing industry. It has significant business operations in China, India, Japan, the US, and Vietnam. Last year, it took a stake in JOT Automation, expanding its equipment automation engineering capabilities and global footprint.

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