NEW YORK (TheStreet) -- Aetrium (ATRM - Get Report) soared Friday after the company, which manufactures electromechincal equipment for semiconductors, announced its acquisition of KBS Building Systems.
Aetrium made the purchase for $5 million in cash and a $5.5 million six-month promissory note made by a wholly-owned subsidiary of Aetrium. The deal also includes the assumption and payoff of approximately $1.4 million in debt, along with other liabilities tied to the purchased assets.
The South Paris, Maine-based KBS manufacturers and sells modular housing units.
"Aetrium is excited to expand its operations through the acquisition of KBS, which we believe will generate long-term value for our shareholders," said Aetrium Chairman Jeffrey E. Eberwein in a statement.
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The stock was up 54.31% to $6.64 at 12:08 p.m. on Friday.