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.

Best of 1290 WNBF

Recommended For You

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 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 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 just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your 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.

(Forgot your password?)

Not a member? Sign up here

Sign up for News-Breakers Club quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive News-Breakers Club contests, events, coupons, presales, and much more delivered to you for FREE.