Electronics Production |
Murata completes the acquisition of<br>C&D's power electronics division
Murata Manufacturing announced it has completed the acquisition of C&D Technologies' Power Electronics Division (PED).
The all-cash transaction was valued at $85 million, subject to working capital adjustments. The agreement to sell this business was previously announced on June 19, 2007. PED will begin to operate under the name “Murata Power Solutions".
The acquisition of PED will strengthen Murata's market presence for power outside of Japan, and enable Murata to offer a greater range of power products and technology to its existing customers. Commenting on the acquisition, Mr. Yasuji Okamoto, General Manager of Murata's Power Device Products Division commented, “We are very excited to have the Power Electronics Division become part of the Murata Power family. The combined portfolio of sales channels, products, and technologies creates a truly global power company, and one of the world's largest providers of power system solutions."
Dr. William Bachrach, General Manager of PED, who will take on the role of President of Murata Power Solutions, commented, “We are excited to be joining the Murata family of companies. Ultimately our customers will benefit from a much wider range of products and solutions available through our existing sales channels. Our business will benefit from improved competitiveness as we leverage the combined procurement, manufacturing, and engineering scale of Murata's global power business. I am confident that customers worldwide will find the overall Murata Power business to be an unbeatable combination."
