Product category:
DC/DC Convertors
News Release from: Murata Power Solutions
Edited by the Electronicstalk Editorial
Team on 29 September 2004
Celestica Power completes acquisition
hat-trick
C and D Technologies has signed a definitive agreement to acquire Celestica Power Systems in an all-cash transaction, the terms of which were not disclosed.
C and D Technologies has signed a definitive agreement to acquire Celestica Power Systems in an all-cash transaction, the terms of which were not disclosed Celestica Power Systems, a division of Celestica, is a Toronto, Ontario-based manufacturer with sales of approximately $94 million for the 12 months ending 30th June 2004
This article was originally published on Electronicstalk on 5 Aug 2008 at 8.00am (UK)
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Celestica Power Systems develops DC/DC and AC/DC power supplies which are sold on a direct basis to large computing and communications OEMs.
The acquisition of Celestica Power Systems will provide C and D with a broader product offering, access to an expanded group of OEM customers, and additional low-cost engineering resources in mainland China.
In addition, Celestica's Power Systems division has long been known as a technology leader, and its history of innovation will position C and D on the forefront of technology development and capability within the power electronics space.
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Previously this year, C and D announced the acquisition of Datel and Celab, both of which will be integrated with C and D's Power Electronics Division, a provider of power conversion products and electronic components to technology companies worldwide.
The acquisition of Celestica Power Systems further expands C and D's Power Electronics Division, which is expected to generate estimated annual revenues in excess of $200 million on closing of this transaction.
Wade H Roberts Jr, President and Chief Executive Officer of C and D Technologies, stated: "We are pleased to have identified another well-fitting acquisition, the third this year".
"The combination of Celestica's Power division, Datel, Celab and C and D Power Electronics is expected to establish the division as a worldwide leader with a broad product offering, diverse channels to market and one of the most capable engineering teams in the industry".
"We look forward to welcoming the talented employees, loyal customers, and experienced management team from Celestica to the C and D family".
"Additionally, a supply agreement entered into with Celestica concurrent with this transaction should ensure a reliable supply of high-quality merchandise for power systems customers".
The transaction is subject to customary closing conditions and is expected to close within the next 30 days.
When completed, C and D Technologies expects the transaction to be immediately accretive to earnings.
C and D Technologies' bank group, led by Bank of America, has expanded the company's revolving line of credit to $200 million to fund the acquisition. Request free introductory details about products from Murata Power Solutions ...
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