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General News

Mar. 2, 2017

Cooley advises Anova in sale to Electrolux for up to $250 million

Anova Applied Electronics Inc. will continue to operate under CEO Stephen Svajian and with its own distinct brand identity, according to a news release.

Cooley LLP advised Anova Applied Electronics Inc. in its sale to Electrolux AB for up to $250 million. Cooley released details regarding its involvement in the deal Feb. 13.

Electrolux, a Swedish appliance manufacturer, said it would pay $115 million in cash upfront for Anova. Electrolux could pay an additional $135 million, subject to adjustments, if certain financial objectives are met.

Anova, founded nearly four years ago, is known for its precision cooker that lets users cook ...

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