AMETEK, Inc. announced that it has completed the previously announced acquisition of the programmable power business of Xantrex Technology, Inc. for $120 million in cash. Based in San Diego, Xantrex’s Programmable Power Division is described as a leader in ac and 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," noted 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."
Xantrex Programmable Power joins AMETEK as part of its Electronic Instruments Group (EIG), described as a leader in advanced monitoring, testing, calibrating, and display instruments. AMETEK EIG sells its instruments to the process and analytical, aerospace, power, and industrial markets worldwide and had 2007 sales of $1.2 billion.
