Acquisition of SSI

IFX Power PLC
1 May 2002


                        IFX Power plc
                   ('IFX' or 'the Group')
                              
  IFX Power plc acquires the business and certain assets of
  Switching Systems International, Inc. for US $9.1 million


IFX Power, a leading mid-tier provider of power solutions to
the  electronics  industry,  today  announces  that  it  has
acquired  the  business  and  certain  assets  of  Switching
Systems   International   Inc.   ('SSI'),   for   a    total
consideration   of  US  $9.1  million  (approximately   £6.3
million) plus expenses.

About Switching Systems International
Based  in Anaheim, California, SSI operates in, and provides
power  supply solutions to the mid-tier of the  electronics
industry.  SSI  has  designed its own proprietary  range  of
configurable  power supplies using outsourcing  partners  as
manufacturers.  It  also provides value added  power  supply
solutions  using  these  same products.  Value  added  power
solutions  are modified standard devices that  can  be  more
easily integrated into the customer's system.  Modifications
can  involve providing wiring harnesses, thermal management,
custom    enclosures   and   ensuring    Electro    Magnetic
Compatibility.  This aids the design-in process  saving  the
customer time and therefore money.

SSI's   route  to  market  is  currently  via  manufacturing
representatives  in the US. Following the acquisition,  this
route  will  be replaced by IFX's direct sales  force.   The
acquired  business  will be integrated into  XPiQ,  Inc.,  a
wholly owned subsidiary of IFX.

Consideration payable
The   total  consideration  payable  under  the  acquisition
agreement is US $9.1 million (approximately £6.3 million) in
cash. US $1.25 million of this consideration is deferred for
15  months.  Under  the  terms  of  this  agreement  IFX  is
acquiring  SSI's  intellectual property, capital  equipment,
stock,  trade  debtors, trade payables, customer  base,  and
order backlog, as well as retaining key employees and rights
to use the SSI name.

For  the  year  ended 31 December 2001,  SSI  had  unaudited
revenues  of  $14.2 million and an unaudited operating  loss
(before   amortisation  of  goodwill)  of  US  $3.4  million
(approximately  £2.3 million). The net assets  acquired  are
expected  to  have  a  book value of approximately  US  $6.7
million (approximately £4.6 million).

Strategic rationale for the acquisition
The  Directors of IFX believe that the key reasons  for  and
benefits of the acquisition are:

  IFX  will expand its configurable power supply product
  range;
  The Group will increase its design engineering team to
  enhance future product development; and
  Improved utilisation of existing sales and value added
  resources.


Chairman   and   Chief  Executive  Officer,  Larry   Tracey,
commented:
'Today's acquisition is a further step for us in  building
the  leading  position in the mid-tier of the  power  supply
market.   SSI's   excellent  product  line  and   outsourced
manufacturing  combine  neatly  with  our  geographic  sales
coverage and business direction.'

                         
Enquiries:

IFX Power plc - www.ifxpower.com

Larry Tracey, Chief Executive Officer          0118 976 5028
James Peters, European Managing Director
Duncan Penny, Finance Director

Weber Shandwick Square Mile                    020 7950 2800
Kevin Smith  or Sally Lewis

Notes to Editors:

IFX  Power  plc  provides  power  supply  solutions  to  the
electronics industry and operates predominantly  within  the
high  technology sector of the market. IFX's power  supplies
regulate   and  distribute  electrical  power  for   various
subsystems and components within electronic equipment.


                      This information is provided by RNS
            The company news service from the London Stock Exchange