Greatbatch Announces Agreement to Acquire EAC
Greatbatch, Inc. (NYSE:GB) announced that its subsidiary, Electrochem Commercial Power, signed a definitive asset purchase agreement to acquire Engineered Assemblies Corporation (“EAC”) for approximately $12m in cash. Greatbach expects to close this transaction in November 2007. EAC, based in Teterboro, New Jersey, with operations in Suzhou, China, is a leading provider of custom battery solutions and electronics integration focused on rechargeable battery systems. EAC complements and extends the array of markets Electrochem currently serves, such as military and aerospace, oceanographic and seismic surveying, and other industrial markets.
Greatbatch Acquires IntelliSensing
Greatbatch, Inc. (NYSE:GB) announced that its subsidiary, Electrochem Commercial Power, has acquired substantially all of the assets of IntelliSensing LLC for approximately $3.9m in cash. IntelliSensing, established in 2005 and based in Orchard Park, New York, designs and manufactures wireless sensor solutions that measure temperature, pressure, flow and other critical data. IntelliSensing's products, powered by lithium batteries, are designed to operate in environments where wired sensors are undesirable or impractical. IntelliSensing's portfolio will extend Electrochem's product portfolio in existing markets to offer complete technology solutions that enable customers to manage their processes more effectively…
