Monday, November 24, 2008
Lineage Power Wraps up Cherokee Acquisition
Dallas-based Lineage Power Holdings Inc., a producer of power conversion equipment, announced Monday that it has finalized its acquisition of power supply manufacturer Cherokee International. The $105 million deal, first reported Sept. 25, got the green light after clearing legal and federal hurdles. Lineage said Cherokee will become part of Lineage's newly created Embedded OEM Power division, which also includes Lineage’s Micro Power business. Jeff Frank, Cherokee's former chief executive, will serve as the group's president. Headquartered in Tustin, Calif., Cherokee manufactures custom and standard switch-mode power supplies for telecom, datacom, medical and process-control applications. The company also maintains facilities in Belgium and China.