10:56 AM EDT, 05/20/2024 (MT Newswires) -- Star Equity ( STRR ) said Monday it has completed the acquisition of Timber Technologies for $23 million, including $16 million in upfront cash.

The company added that it will buy associated real estate in June for $3 million in a separate deal.

Timber Technologies will continue its operations as part of Star Equity's ( STRR ) Building Solutions division, the company said.

Shares of Star Equity ( STRR ) rose past 3% in recent trading activity.

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