WASHINGTON Electronic component manufacturer Bel Fuse Inc. said Friday (March 4) is has acquired privately-held Galaxy Power Inc., a maker of dc-dc coverters for distributed power and telecommunications applications.
Bel Fuse (Jersey City, N.J.) will acquire Galaxy for approximately $18 million in cash, and will assume about $2 million in liabilities.
Galaxy (Westborough, Mass.) said the acquisition will allow it to speed product introductions and serve larger companies. The acquisition combines Galaxy's line of isolated converters with Bel Fuse's non-isolated converters, the companies said.
"Galaxy brings a wealth of technical capabilities and high-performance isolated converter products while Bel brings low cost, high volume manufacturing and a broad portfolio of non-isolated products," Galaxys President Lou DeBartelo said in a statement.