Galaxy Power Inc. (Westborough, MA) announced that is has entered into a definitive agreement to be acquired by Bel Fuse Inc. for approximately $18 million in cash and the assumption of approximately $2 million dollars of liabilities. Galaxy, a private company, is a leading designer and manufacturer of high-density dc-dc converters for distributed power and telecommunications applications.
By merging with Bel, the Galaxy Power product line will have additional financial and manufacturing resources to bring its products to market faster and be able to serve larger customer accounts. The addition of the Galaxy Power line of isolated converters to the Bel Power Products non-isolated line will create a powerful new company.
"Joining forces with Bel is a natural fit that holds benefits for both companies and our customers," stated Galaxy President Lou DeBartelo. "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. Together, the merged organization yields a synergistic blend of technical talent, manufacturing capability and customer relationships."
