© ljupco smokovski dreamstime.com
Components | January 27, 2015
Bel sells power systems division to Unipower
Bel Fuse has completed the sale of the Network Power Systems division ("NPS") of its recently acquired Power Solutions business to privately owned Unipower LLC, Coral Springs, Florida.
The transaction had a price-tag of USD 9 million in cash plus USD 1 million in escrow pending realisation of certain sales targets.
NPS, which specialises in high quality, advanced technology DC power systems for use in networking, telecommunications, and high-speed data transmission, was acquired by Bel as part of its approximately USD 117 million purchase of Power Solutions from ABB in June 2014.
"This divestiture will allow us to focus exclusively on Power Solutions' core product groups--Front End, Industrial and Board Mounted Power--as we work to develop Bel's global power business, a key element of our strategy to enhance growth and profitability for our shareholders," said Daniel Bernstein, Bel's President and CEO.
The transaction provides that Bel will move processes and people to Unipower under an interim transition agreement. Bel also will continue to manufacture the NPS products for up to 24 months under a manufacturing agreement.
NPS, which specialises in high quality, advanced technology DC power systems for use in networking, telecommunications, and high-speed data transmission, was acquired by Bel as part of its approximately USD 117 million purchase of Power Solutions from ABB in June 2014.
"This divestiture will allow us to focus exclusively on Power Solutions' core product groups--Front End, Industrial and Board Mounted Power--as we work to develop Bel's global power business, a key element of our strategy to enhance growth and profitability for our shareholders," said Daniel Bernstein, Bel's President and CEO.
The transaction provides that Bel will move processes and people to Unipower under an interim transition agreement. Bel also will continue to manufacture the NPS products for up to 24 months under a manufacturing agreement.
Thales Alenia Space in partnership for ISS-program
NanoRacks will pursue International Space Station opportunities in cooperation with...
Versum Materials opens R&D facility in Pennsylvania
Versum Materials, a materials supplier to the semiconductor industry, has officially opened its...
Qualcomm with 1'500 job cuts
Chipmaker Qualcomm Inc. is said to lay off 1'500 staff in California, the majority of which will have to leave the chipmaker’s San Diego headquarters.
What’s in your portable product?
We are all familiar with batteries these days; they are virtually ubiquitous in a myriad of...
Rheinmetall protects new naval port
The multiphase contract is a worth a double-digit euro million figure and includes the...
Stadium now part of TT Electronics
TT Electronics plc has completed its acquisition of Stadium Group plc, a supplier of design-led...
First Graphene signs MoU with SupremeSAT on miniature satellites
First Graphene has entered into a binding Memorandum of Understanding with...
Littelfuse PLEDs support replacing fluorescent lighting tubes with LED...
Littelfuse, Inc. introduced a series of PLEDs with an ultra-low holding current (just 21mA) that...
Passives: Demand continues to outstrip supply
Especially MLCC, tantalum and chip resistors are affected by this demand-supply discrepancy. The traditional slowdown in demand that is typical for January, has not occurred and consumption is now expected to be up for the global market...
Bittium secures purchase order from Finnish Defence Forces
Bittium Wireless has received a purchase order from the Finnish Defence Forces for products...
CACI withdraws offer to acquire CSRA
CACI International Inc has withdrawn its previously announced offer to acquire all...
ROHM: Apollo plant gets more production capacity
ROHM Semiconductor plans to construct a new building at its Apollo plant in Chikugo (Japan)...
Bosch plans smart factory for electronic components
Bosch is investing EUR 100 million in a new plant in Celaya (Mexico). The German manufacturer plans to build a new smart factory for electronic components in the central Mexican city by 2020.
RoodMicrotec: First quarter sales up 17%
RoodMicrotec reports a 17 percent year‐on‐year increase in sales revenue, due to a strong...
Infineon demonstrates secured authentication using FIDO2 on Microsoft...
Infineon Technologies AG is demonstrating its FIDO2 reference design. The design is...
MediaTek teams up with Microsoft
MediaTek are collaborating with Microsoft to deliver the first ever Azure Sphere chip, the MT3620...
Edwards Vacuum breaks ground on new innovation centre in Oregon
Edwards Vacuum, a manufacturer of vacuum and abatement solutions, has...
Mouser Electronics expands Mexico office
The new and expanded customer service centre in Guadalajara, Mexico, will serve...
Continental expands production with new facility in China
German technology company, Continental, has broken ground on its greenfield facility in Wuhu...
Molex & TTTech to develop industrial IoT solutions
Based on their shared vision of open, flexible and interoperable systems in the Industrial Internet...
Related news
Most Read
Load more news
Comments