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Delta buys Norwegian power supply firm Eltek for $530m
The Taiwanese automation and power electronics manufacturer Delta Electronics is buying the Norwegian power supply maker Eltek in a deal that values the business at around NOK3.9bn (US $530m). The transaction, which is being conducted through Delta’s Dutch subsidiary, Deltronics, is expected to be completed by June 2015.
Delta says that the strategic acquisition marks “a significant step” and will bring a “unique synergy” to both companies to leverage engineering, sales and global operations platforms from each other to provide “unparalleled” product solutions and services.
By combining their resources, Delta believes that the transaction will be mutually beneficial and will “unleash huge potential to solidify our leadership and long-term growth opportunity in global power business”.
Eltek, which was established in 1971, designs, manufactures, and markets power supplies, mainly in the European and American markets. It has 2,400 employees at 60 offices in nearly 40 countries, and in 2013 reported revenues worth NOK3.7bn ($500m). It is a leader in telecommunications power and a growing force in industrial and data centre applications.
Delta, founded in the same year as Eltek, is a global leader in power and thermal management systems as well as a major player in sectors including industrial automation, displays and networking.
In 2013, it reported revenues of US$7.2bn and it has 30 manufacturing facilities and 56 r&d centres worldwide.
