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Xantrex Acquires Elgar Electronics For $108M Cash

Tuesday, January 30, 2007 7:00:00 AM PDT | VentureDeal Staff

VANCOUVER, BC -- Xantrex (TSX: XTX) announced the agreement to acquire the Elgar Electronics Corporation for $108 million in an all cash transaction.

San Diego-based Elgar manufactures numerous programmable power products for customers in the aerospace, marine, medical, government, telecom and semiconductor industries.

Xantrex believes the acquisition will be highly complementary to its portfolio of businesses and growth strategies.  Elgar's unaudited 2006 financials included revenues of $64 million and net income of $6.3 million.

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