XP Power PLC
28 October 2005
28 October 2005
XP Power plc
('XP' or 'the Group')
Acquisition of XP Engineering Services
XP, one of the world's leading providers of power supply solutions to the
electronics industry, announces the acquisition of the remaining 80% of the
issued share capital of XP Engineering Services Limited ('XPES') that it does
not already own for a consideration of £480,000 in cash.
XPES provides value added engineering services that enable its customers to
integrate power supplies into their end user equipment more easily and cost
effectively. This process may involve incorporating several power supplies into
one chassis, adding signals, special housings, thermal and EMC management and
specific cable harnesses or connectors.
XP has worked very closely with XPES over the last four years and virtually all
of its revenue comes from the Group.
For the year ended 31 March 2005, XPES had an unaudited profit after tax of
£163,902. The net assets acquired are expected to have a fair value of
approximately £130,000 of which £38,000 is expected to be cash.
The Directors of XP believe that the acquisition of XPES will expand the Group's
value added engineering capabilities, enhance the Group's margins as more of the
intellectual property in this type of offering is owned by XP; and further
develop more standard products and platforms to enlarge XP's product offering.
- Ends -
Enquiries:
XP Power plc 0118 984 5515
Larry Tracey, Executive Chairman
James Peters, Deputy Chairman
Duncan Penny, Chief Executive Officer
Weber Shandwick Square Mile 020 7067 0700
Nick Dibden or Kevin Smith
Notes to editors:
XP Power plc provides power supply solutions to the electronics industry.
All electronic equipment needs a power supply. Power supplies convert the
incoming AC supply into various levels of DC voltages to drive electronic
components and sub-assemblies within the end user's equipment. XP Power segments
its business into Communications, Defence and Avionics, Industrial and Medical.
By servicing these markets XP Power provides investors with access to technology
and industrial sectors of the North American and European electronics market.
The market is highly fragmented and made up of a large number of small to medium
sized Original Equipment Manufacturers who source standard and modified standard
power supplies from several hundred power supply companies.
For further information, please visit www.xppower.com
This information is provided by RNS
The company news service from the London Stock Exchange
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