Contact Us

Endicott Interconnect Sale Gets Greenlight

Bob Joseph/WNBF News

Endicott Interconnect Technologies is now clear to be owned by a Broome County holding company.

Broome County businessman Jim Matthew’s Integrian Holdings LLC submitted the winning bid for the bankrupt EIT in a deal that is estimated at around $20 million.

A U.S. Bankruptcy Court Judge in Utica approved the purchase September 26, allowing the deal to move forward without any further court action.

The Matthews family has owned a controlling interest in the Endicott technology company for years.  Their familiarity with the business, which currently employs around 600 workers, was cited in the decision to approve the high bid.

EIT at one time had employed around 1,100 workers at the former IBM site, but with a slump in orders, hundreds were laid off in an effort to keep the company afloat before bankruptcy was filed.

Integrian will assume Endicott Interconnect’s $15 million debt. It would also be eligible to collect a $2.5 million grant from Empire State Development if it keeps EIT open and its workforce in place.

The formal completion of the transaction is expected in October.

More from WNBF

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://wnbf.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on WNBF News Radio 1290 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on WNBF News Radio 1290 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!