XP Power announced that it has acquired the business and assets of Glassman High Voltage Inc., a US-based designer and manufacturer of high voltage, high power, power supplies.
The $44.5 million deal expands XP Power's product offering into standard, modified and custom high voltage, high power conversion products. Typical applications include semiconductor manufacturing equipment, vacuum/plasma processing, analytical instrumentation, medical diagnostics and test equipment.
Glassman and XP Power share several customers, and while there is no direct overlap in product lines, the power supply solutions of the two companies are highly complementary. The deal also brings new customers to XP Power, particularly in the industrial and technology sectors.
Duncan Penny, Chief Executive of XP Power, said:
"We are delighted to welcome Glassman to the XP Power Group and are excited about the opportunities it will bring. Glassman fits directly with our strategy of growing our high power and high voltage capabilities to complete our product offering and expand our addressable market. This is our third such acquisition in just over two years and means we can now offer a full suite of products from miniaturized low power modules to high power rack mount high voltage solutions. We are confident that Glassman will have a successful future as part of XP Power."