Ametek will acquire the programmable power business of Xantrex Technology for $120 million in cash. Based in San Diego, Xantrex's Programmable Power Division develops alternating current (AC) and direct current (DC) programmable power supplies used to test electrical and electronic products. It has annual sales of approximately $80 million. The transaction is expected to close in the third quarter. The acquisition is not contingent on the sale of Xantrex Technology to Schneider Electric announced today. Xantrex Programmable Power will join Ametek as part of its Electronic Instruments Group (EIG) – provider of monitoring, testing, calibrating, and display instruments. Ametek EIG sells its instruments to the process and analytical, aerospace, power, and industrial markets worldwide and had 2007 sales of $1.2 billion.
