Ultra Electronics takes over US power conversion firm
Electronic and software solutions company Ultra Electronics says that its acquisition of a US power conversion business is now complete after having received the approval from the other party's shareholders.
Electronic and software solutions company Ultra Electronics says that its acquisition of a US power conversion business is now complete after having received the approval from the other party's shareholders.
The acquired unit is operated by RFI Corporation, a manufacturer of proprietary, high-voltage power conversion subsystems and a subsidiary of American electronics firm DGT Holdings.
Ultra was waiting on DGT's shareholders to give the green light before the transaction, which was first agreed in June, could close. The unit was acquired for a cash consideration of $12.5m (subject to a potential working capital adjustment).
Subscribe to 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
"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," said Ultra's Chief Executive Rakesh Sharma.
BC
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
How does the Lifetime ISA work? Key LISA rules
What is a Lifetime ISA (LISA) and how much could the government bonus boost your savings by? We look at the perks and the pitfalls.
-
AJ Bell: a fine British fintech going cheap
Opinion Don’t overlook investment platform AJ Bell, a significantly undervalued British business with an excellent financial base