August Electronics, a Calgary-based provider of end-to-end electronics manufacturing services, is joining the Kaynes Technology group.
The company announced in a news release that it has entered into a “definitive agreement” to be acquired by Kaynes Canada Limited. Financial details of the deal haven’t been disclosed.
“There is a tremendous alignment between August and Kaynes in terms of culture, capabilities, and customer focus,” Tanya Korenda, CEO of August Electronics, said in the release.
“We are extremely excited about this opportunity to join forces and leverage the global scale, engineering strength, and complementary capabilities that Kaynes brings.”
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Following the completion of the acquisition, expected to close by the end of May, the entire August Electronics management team will remain in place to ensure “business continuity and a strong foundation for future growth.”
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