Product category: DC/DC Convertors
News Release from: C and D Technologies (NCL)
Edited by the Electronicstalk Editorial Team on 22 June 2007

Murata to acquire
power electronics operations

Register for the FREE Electronicstalk email newsletter now! News about DC/DC Convertors and more every issue. Click here for details.

C and D Technologies has agreed to sell its Power Electronics Division to Murata for US $85 million cash

C and D Technologies has signed a definitive agreement to sell its Power Electronics Division (PED) to Murata for US $85 million cash, subject to customary working capital adjustments. The transaction is subject to regulatory and other approvals. With annual revenues of over $185 million, PED is a world-leading manufacturer of DC/DC convertors, AC/DC power supplies, magnetics, data acquisition devices and panel meters.

PED's global customer base includes many of the most respected Tier I electronics manufacturers.

Murata is one of the world's leading providers of ceramic based components, sensors and integrated electronic modules, including power supplies.

The Company, headquartered in Kyoto, Japan, has over 29,000 employees worldwide and over $4.8 billion in annual sales.

Dr William Bachrach, General Manager of PED comments: 'This transaction allows the Power Electronic Division to bring a broader range of products to our existing customers, enables a new range of customers for our existing products and will improve our overall global competitiveness'.

'Our combination with Murata provides a powerful platform for the future'.

'We are honoured to be joining such a respected and longstanding force within the electronics industry'.

'The sale of our Power Electronics Division to Murata delivers a good outcome to C and D shareholders by providing the company with liquidity to de-lever its balance sheet, fund important cost reduction programs and invest in additional growth initiatives within our Power Systems Division', says Dr Jeffrey Graves, President and Chief Executive Officer.

'At the same time, our valued power electronics customers can look to a strong future knowing that PED will have additional resources to continue to meet and exceed the needs of their business'.

As a result of the signing of this agreement, PED will be reflected in the company's future consolidated financial statements as a discontinued operation.

? C and D Technologies (NCL): contact details and other news
? Email this article to a colleague
? Register for the free Electronicstalk email newsletter
? Electronicstalk Home Page

Related Business News

Taiwan Shares Climb 0.9 Percent
Taiwan shares rose on Thursday as investors were cheered by U.S. stock gains overnight. The Weighted Price Index of the Taiwan Stock Exchange rose 49.39 points, or 0.9 percent, to close at 8061.28.

Acxiom Agrees to Be Acquired by...
...Silver Lake and ValueAct Capital for $3.0 Billion. Acxiom Corporation announced today that it has entered into a definitive agreement to be acquired by Silver Lake, the leading investment firm focused on large-scale investments in technology-driven growth industries, and ValueAct

Opnext Reports Fourth Quarter and Full Year Operating Results
Opnext, Inc. , a global leader in the design and manufacturing of optical modules and components, today announced preliminary and unaudited financial results for the fourth quarter and full year ended March 31, 2007.

Vista Partners Updates Coverage on TXP...
...Corporation; Maintains $0.80 Price Target. Vista Partners announced today that it has update coverage on TXP Corporation . Vista Partners provides equity research to institutional and individual investors, with a focus on publicly traded small capitalization companies.

Ceasefire in Gaza Strip begins to...
...take hold ahead of Abbas visit. Gaza City, Gaza Strip (AP) - A tenuous ceasefire between rival Fatah and Hamas forces appeared to be holding Thursday, and shellshocked residents emerged from their homes to stock up on food and supplies after four days of intense fighting brought the ci

Search the Pro-Talk network of sites