Forklift battery manufacturer C&D Technologies has acquired DC/DC converter maker Datel Inc for USD74.6 million.
C&D's purchase was funded with USD66.1 million in cash and included the assumption of about USD8.5 million of Datel's debt.
C&D president and CEO Wade Roberts said buying Massachusetts-based Datel would give his company an "expanded international footprint" as well as access to OEM customers.
"We are pleased to have quickly closed this transaction, which significantly bolsters our market presence in the electronics power industry," he said.
"Now, we can focus on integrating the newly-acquired operations in a way that maximises our expanded product portfolio, international presence and manufacturing infrastructure."