Tualatin, Ore. - March 2, 2015 - CUI Inc and its parent company CUI Global, Inc. (NASDAQ:CUI), announced today that they have entered into a definitive agreement under which CUI will acquire specific assets of the privately held Canadian equipment manufacturer Tectrol, Inc, a leading designer and manufacturer of standard and custom power solutions.
Tectrol is a family-owned, Toronto, Canada-based company that was founded in 1968. For over 40 years, the Company has consistently been one of the most flexible and most respected providers of power products with the unique ability to accommodate design challenges for low, medium and high volume applications. Its customer list includes some of the most iconic electronics, networking, medical and technology companies in the world.
The acquisition will greatly expand CUI's power product portfolio along with its engineering and manufacturing capabilities. Already a leader in the digital power space, the Tectrol line will add a standard portfolio of high-density, high-efficiency ac & dc power supplies ranging from 200 W to 3000 W along with modified standard and custom capabilities. The acquisition will also significantly boost CUI's power design and manufacturing resources with the addition of Tectrol's advanced 74,000 sq. ft. Toronto, CA facility.
CUI's President, Matt McKenzie commented, “We believe this transaction is a step forward for our company as we look to deliver our customers the most advanced power solutions from the ac front-end all the way to the dc point of load. We are very excited about the synergies between the companies and are confident that the integration will immediately enhance the capabilities of our Power group.”
The Tectrol line complements CUI’s Novum® Advanced Power products and will serve the same primary customer base. Having already developed the board-level Novum product line, CUI will now be able to offer a complete power system with Tectrol’s robust line of power supplies feeding the power to the board level modules.
“This acquisition furthers our value proposition to the customer base that we are already engaged with. As many OEMs look to consolidate their supplier base, it is essential we are able to offer the most comprehensive solution for their power systems,” McKenzie concluded.
About CUI Inc
CUI Inc is a technology company focused on the development and distribution of electronic components. At the leading edge of power supply design, the organization supports customers as they strive to improve the energy efficiency and environmental credentials of their application. The company's power group is complemented by a portfolio of world-class board level components, consisting of interconnect, sound, motion control and thermal products. An unwavering commitment to create collaborative partnerships with customers and a drive to see that their design project is a success has been a hallmark of CUI's sustained growth since its founding in 1989. As a leader in the industry, CUI will continue to invest in the future through new technologies, talented employees, expanded manufacturing capabilities, and a growing global reach.
CUI Inc is a subsidiary of CUI Global, Inc., a publicly traded company whose common stock trades on the NASDAQ Exchange under the symbol CUI.
About CUI Global, Inc.
Delivering Innovative Technologies for an Interconnected World . . . . .
CUI Global, Inc. is a publicly traded company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies. From Orbital Gas Systems' advanced GasPT2 platform targeting the energy sector, to CUI Inc's digital power platform serving the networking and telecom space, CUI Global and its subsidiaries have built a diversified portfolio of industry leading technologies that touch many markets. As a publicly traded company, shareholders are able to participate in the opportunities, revenues, and profits generated by the products, technologies, and market channels of CUI Global and its subsidiaries. But most importantly, a commitment to conduct business with a high level of integrity, respect, and philanthropic dedication allows the organization to make a difference in the lives of their customers, employees, investors and global community.
For more information please visit www.cuiglobal.com