Morgan Stanley Dean Witter Confirms Investment in Acumentrics
Morgan Stanley Dean Witter (New York, NY) confirmed that it has finalized an investment in Acumentrics Corp. (Westwood, MA). "We are pleased to add Morgan Stanley Dean Witter to our list of partners, which also includes Northeast Utilities and General Dynamics Corporation," said Gary A. Mook, CEO of Acumentrics. "The participation of a leader in both the financial services industry in general, and the power technology space in particular, lends a great deal of support to our efforts to be at the forefront of an emerging industry with significant market-growth potential."
"We are excited about our investment in Acumentrics," said Barry Kupferberg of the Investment Banking Division of Morgan Stanley Dean Witter. "The market potential for the company's fuel cell and UPS products is significant and we are pleased to be able to invest in a company that we believe will be a leader in both of these markets."
Acumentrics will use funds from the investment, in conjunction with those of other investors in this round of financing, to expand its manufacturing capability and for general corporate purposes.