Ultra Electronics buys US components business RFI

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.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues 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

Sign up

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