Thursday, 26 July 2012

Acquirer acquired

Hybridcars.com reports that Liberty Electric Cars of the UK, acquirer just two months ago of GoinGreen, my former company and the one behind the G-Wiz, has itself been acquired by Green Automotive. Apparently the original discussions were for Liberty technology to be used to convert conventional internal combustion engine driven vehicles into electric vehicles.

Green Automotive Company opted to get closer and announced yesterday it has closed the acquisition of Liberty Electric Cars Ltd. following its announcement on June 29 of the signing of a definitive agreement to acquire the Liberty business.

The combined businesses will now have operations in North America, Europe and Australasia and will continue to expand through a combination of organic growth and targeted acquisitions.