Nextreme Thermal, maker of microscopic cooling units that can generate electricity from waste heat, has been acquired by Laird, a British global technology company.
Nextreme, based in Research Triangle Park, was spun off 8 years ago from an in-house invention at RTI International, the giant nonprofit research organization based in RTP.
The 25-employee spinoff makes tiny thermal electric semiconductors that can be implanted into electronic devices. As part of its product rollout, Nextreme had signed a development and distribution deal with Laird last year.
Laird is acquiring Nextreme for $1 with a potential $60 million payment based on revenue over four years starting in 2014. This year Nextreme is expected to lose $3 million as it moves into mass production of its product.
Nextreme will function as a business unit within Laird, keeping its employees and basic operations, said Nextreme CEO John Goehrke.
Staff writer John Murawski