- Vision Marine Technologies (NASDAQ:VMAR) has acquired MAC Engineering's intellectual property relating to marine outboard electronic systems.
- The financial terms of the deal were not disclosed.
- As per the terms, VMAR has acquired all of MAC’s electric technological components, know-how, and software relating to the manufacture, production, use, sale, rental, and distribution of marine outboard electronic systems.
- Vision Marine also announce that Xavier Montagne, CEO of MAC Engineering, will be joining the company as its Chief Technology Officer.
- “The acquisition of MAC Engineering’s marine propulsion intellectual property significantly adds to Vision Marine’s already formidable in-house capabilities to deliver what we believe to be the best performing and most efficient powertrain systems for electric boats, across our proprietary platform.” said Alex Mongeon, Co-Founder and CEO of Vision Marine.
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- Press Release