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Electrochem agrees to buy Micro Power Electronics.

MANews-(C)2009-2011

14 December 2011 - Electrochem Solutions Inc, a US supplier of customised battery power and wireless sensing systems, has signed a definitive agreement to buy US sector player Micro Power Electronics Inc.

Electrochem, which is part of Greatbatch Inc (NYSE:GB), said in its statement that it would pay about USD60m (EUR46m) in cash. As part of the deal, it would also assume the target's debt and cover certain costs related to the transaction. Electrochem added that financing for the deal would come from its cash reserves and an existing credit line. The company expects to finalise the acquisition by year-end.

Susan M. Bratton, senior vice president at Electrochem, stated that the purchase would create a more diverse portfolio and expand Electrochem's share of the portable medical battery market.Country: USA, Sector: Machinery/EngineeringTarget: Micro Power Electronics IncBuyer: Greatbatch Inc, Electrochem Solutions IncDeal size in USD: 60mType: Corporate acquisitionFinancing: Cash & DebtStatus: Agreed

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Publication:M & A Navigator
Date:Dec 14, 2011
Words:154
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