Thursday, September 25, 2008
Lineage Power Buys Power Supply Maker
Dallas-based Lineage Power, a manufacturer of AC/DC and DC/DC power supplies, has acquired a fellow power supply manufacturer, Cherokee International, in a $105M deal. According to the firms, Lineage Power Holdings will pay $3.20 per share of common stock for Cherokee International, which trades on the NASDAQ and is based in Tustin, California. Lineage Power, which is owned by private equity firm The Gores Group, said that Cherokee will become a division of Lineage and will continue to supply custom power solutions to the marketplace. Cherokee International supplies power supplies to the datacom, telecom, medical, and other industries.