Purchase Terms Of Endicott Interconnect Sale

The purchase agreement for Endicott Interconnect’s new owner will not require the new group to be responsible for most of the debt and employee obligations. Integrian Holdings LLC will be given the rights to the company’s name, most of its contracts, and its $13.1 million worth of inventory. Integrian won’t be required to hire any EI employees, they won’t be responsible for unpaid bonus or severance payments, and they won’t be liable for any violations that took place following layoffs in the past. These were the terms set forth by a 142-page asset purchase agreement between the old company and its new buyer. EI has been one of Broome County’s most important employers after they succeeded IBM’s role in Endicott. Integrian Holdings LLC, owned by the Matthews family, purchased EI’s assets after winning the bid for the company at an auction on September 24th.