Ametek Acquires Xantrex Programmable
September 5, 2008
PAOLI, PA, August 25-Ametek Inc., global manufacturer of electronic instruments and electromechanical devices, has acquired the programmable power business of Xantrex Technology Inc. for $120 million in cash. Based in San Diego, Xantrex's programmable power division produces alternating current (AC) and direct current (DC) programmable power supplies used to test electrical and electronic products. It has annual sales of approximately $80 million.
"Xantrex Programmable Power is an excellent acquisition for Ametek. It enjoys a strong reputation within the power industry and its products complement those offered by Ametek Power Instruments," notes Frank S. Hermance, Ametek chairman and chief executive officer.
"Xantrex Programmable Power significantly expands our position in the niche market for programmable power sources and provides us with further opportunities for growth in the highly attractive electronic test and measurement equipment market," adds Mr. Hermance.