Defence firm Ultra Electronics has bought a US-based power conversion business to link up with its defence electronics arm, EMS.
RFI, based in long Island, New York is an established manufacturer of high-voltage, power conversion subsystems including electronic filters, high voltage capacitors and pulse modulators.
The deal has been agreed with RFI's parent firm, DGT Holdings, and will likely cost $12.5m.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Rakesh Sharma, Chief Executive of Ultra, commented: "I am pleased that we have reached agreement to acquire RFI. It has strong market and technical synergies with EMS with which it will be combined to the benefit of both businesses."
BS
-
Could your family be at risk of an unexpected tax bill? How to keep your loved ones in the loopMany families are out of the loop when it comes to planning the financial aspects of both retirement and inheritance
-
Rightmove: Glut of homes for sale in southern England drives asking price dropAsking prices are 0.1% lower than a year ago, according to the property website, driven by challenges in affordability-stretched London and the south
