Member Article

Ultra Electronics make $12.5m US acquisition

British electronics company Ultra has confirmed their $12.5 million acquisition of a US power conversion business operated by RFI Corporation.

RFI is a manufacturer of high-voltage power conversion systems and is a subsidiary of American electronics firm DGT Holdings.

The deal was put through after shareholders in DGT gave the go ahead. The completion of the transaction was dependant on approval from at least two thirds of common shares between DGT and its subsidiary.

Ultra Electronics is one of the top companies in defence, security, transport and energy, and offer their products, services and solutions internationally.

Rakesh Sharma, Chief Executive of Ultra, commented:“I am pleased that we have acquired RFI. It has strong market and technical synergies with EMS with which it will be combined to the benefit of both businesses.”

The deal was drawn up in June and confirmed on the stock market today.

This was posted in Bdaily's Members' News section by Miranda Dobson .