NEWARK, N.Y., 5 Nov. 2007.Ultralife Batteries Inc. has entered into definitive agreements to acquire all the outstanding shares of two affiliated companies headquartered in Clearwater, Fla.: Stationary Power Services Inc., an infrastructure power management services company, and Reserve Power Systems Inc., a provider of lead-acid batteries for standby power systems.
The purchase price for both companies, excluding the payment of any contingent purchase price, is anticipated to be approximately $11.3 million. The acquisitions, subject to customary closing conditions, are expected to close by the end of the fourth quarter. Ultralife anticipates that these acquisitions will be accretive in the first quarter of 2008.
"Acquiring Stationary Power Services will further our transformation from a battery company to a value-added power solutions, accessories, and engineering services company serving a broad spectrum of government/defense and commercial markets. The global standby power market is experiencing enormous growth arising in large part from extensive investment in telecommunications, utility, and transportation infrastructure especially in emerging markets that require reliable back-up power systems," says John D. Kavazanjian, Ultralife's president and chief executive officer.
