Littelfuse to Acquire the Gas Discharge Tube Assets of SRC Devices
Littelfuse, Inc. announced it has acquired the gas discharge tube (GDT) assets of SRC Devices, Inc., for $6 million in cash, subject to post-closing purchase price adjustments. Headquartered in La Jolla, Calif. with a manufacturing facility in Guadalajara, Mexico, SRC Devices designs and manufactures gas discharge tubes, reed switches and reed relays. The acquisition is expected to be neutral to Littelfuse earnings in 2006.
"This is a strategic step that broadens our GDT product line and brings new customers to Littelfuse. The acquisition gives Littelfuse a strong base in industrial applications for the GDT products and further enhances our already solid position in the telecom market," said David Samyn, Vice President and General Manager of Littelfuse's Electronics Business Unit.
"We plan to move production of the GDT product line from the SRC manufacturing facility in Mexico to our existing operation in Suzhou, China. Consolidating production of the GDT line at one facility will enable us to reduce costs and further leverage our existing capabilities in China," said Samyn.