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07
June
2012

Ultra Electronics to buy DGT Holdings

DGT Holdings Corp today announced that it has reached a definitive agreement to sell its Power Conversion business to Ultra Electronics Defense.
Ultra Electronics Defense, an affiliate of Ultra Electronics Holdings plc, a UK corporation, will buy the company for $12.5 million in cash (subject to a potential working capital adjustment).

"We believe that the proposed sale will provide a home for our RFI business and employees that will allow the business to grow and thrive while also returning value to our shareholders," said John Quicke, President and CEO of the Company.

DGT Holdings Corp. manufactures proprietary high-voltage power conversion subsystems including electronic filters, high voltage capacitors, pulse modulators, transformers and reactors, and a variety of other products designed for industrial, medical, military and other commercial applications through its Power Conversion Group's RFI Corporation subsidiary.
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