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Thursday, Mar 28, 2024

Interlink Sells Two Business Segments

Interlink Electronics Inc. sold its remote and branded products business segments to the U.S. division of a Tokyo-based company for $11 million. The transaction between Camarillo-based Interlink and SMK Electronics Corp. USA is expected to close by the end of August. Selling the two business segments allows Interlink to focus on its e-transactions and specialty components businesses that have the greatest potential for long-term profitable growth, said Chairman, CEO and President E. Michael Thoben. “Proceeds from this divestiture will give us the needed working capital to further develop these technologies as well as strengthen our balance sheet,” Thoben said. SMK Electronics Corp. USA is based in Chula Vista. It is a division of SMK Corp., the world’s largest manufacturer of remote control units.

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