E-Waste Systems Inc. (EWSI) has a tentative agreement to buy an unidentified end-of-life electronics company in the southeast United States.
The letter of intent requires that the names of the company and the terms of the deal be kept confidential to protect customers, suppliers, and employees, but London-based EWSI will announce it when a definitive agreement has been executed, the company said in a news release.
When the deal is complete, the acquisition would provide complementary services, important geographic location and a customer base that would mesh with EWSI's strategic emphasis on servicing original equipment manufacturers, major retailers, large corporations and government institutions. The company to be purchased operates from a 25,000 sq.-ft. facility, delivers a range of end-of-life services and is certified to process e-waste safely.
EWSI said the purchase is part of its global e-waste strategy. "We are very pleased to have signed the letter of intent for this acquisition. The services, location, customer base, qualifications and team that make up this target will provide us with a solid entry into this important region," said EWSI CEO Martin Nielson.