Micro Power Electronics, Inc. announced that it has acquired SelfCHARGE, Inc., a Redmond (Washington)-based provider of battery chargers, docking stations and battery packs. The closing of the transaction is still subject to several conditions, including final shareholder approval. The financial terms of the deal were not disclosed.
"SelfCHARGE is well-known for its battery chargers, and its business is a natural complement to Micro Power’s existing portfolio. Our complementary product lines provide our OEM customers with a more comprehensive portfolio of portable power products, including power supplies, battery chargers and battery packs," said Greg Love, President and CEO of Micro Power. "The combination of the Micro Power and SelfCHARGE customer base is another step towards Micro Power achieving its $100 million annual revenue target. The SelfCHARGE facility in Redmond will become Micro Power’s "center of excellence" for battery charger design and manufacturing."
"We have always had great respect for Micro Power, its technology and quality leadership with its custom battery packs," said Loren Lyon, President and CEO of SelfCHARGE. "Our rapid time to market and superior charger technology coupled with Micro Power’s established position in the portable power market will combine two of the fastest growing companies in the Pacific Northwest into a dominant force in this industry."
