Beaverton, OR, March 01, 2007 --(PR.com
)-- Micro Power Electronics, Inc. announced today that it acquired SelfCHARGE, Inc., a Redmond, WA-based provider of battery chargers, docking stations and battery packs. Micro Power is the global leader in portable power solutions for mission-critical equipment and provides custom battery solutions to leading portable medical, rugged handheld computing and commercial military equipment manufacturers. The closing of the transaction is still subject to several conditions, including final shareholder approval. The financial terms of the deal were not disclosed.
“SelfCHARGE is well-known for its battery chargers, and its business is a natural complement to Micro Power’s existing portfolio. Our complementary product lines provide our OEM customers with a more comprehensive portfolio of portable power products, including power supplies, battery chargers and battery packs,” said Greg Love, President and CEO of Micro Power. “The combination of the Micro Power and SelfCHARGE customer base is another step towards Micro Power achieving its $100 million annual revenue target. The SelfCHARGE facility in Redmond will become Micro Power’s “center of excellence” for battery charger design and manufacturing,” he continued.
SelfCHARGE designs and manufactures custom OEM portable power products including battery chargers, docking stations, charge cradles and battery packs for industrial equipment manufacturers.
“We have always had great respect for Micro Power, its technology and quality leadership with its custom battery packs,” said Loren Lyon, President and CEO of SelfCHARGE. “Our rapid time to market and superior charger technology coupled with Micro Power’s established position in the portable power market will combine two of the fastest growing companies in the Pacific Northwest into a dominant force in this industry.”
“Our investment in Micro Power is already paying off,” said James McElwee, Partner of Weston Presidio. “We bought the company last year with the intent of facilitating synergistic technology acquisitions and continuing expansion of their power product portfolio, and we are seeing this plan come to fruition with the acquisition of SelfCHARGE.”
About Micro Power Electronics, Inc.
Micro Power Electronics, Inc. is an ISO 9001:2000 certified and FDA registered supplier of custom battery systems for the portable medical, rugged handheld computing, and data collection equipment markets. As a pioneer in the development of Lithium battery systems and smart battery packs, with more than 20 years of experience developing battery solutions, Micro Power is capable of meeting the most challenging power requirements. With a proven track record of technical excellence, quality solutions and award-winning service, Micro Power has become the fastest growing supplier of custom battery systems in North America. For more information, please visit www.micro-power.com or call 800-576-6177.
About SelfCHARGE, Inc.
Headquartered in Redmond, WA, SelfCHARGE, Inc. is a fast-growing provider of Portable Power Products, including battery packs, battery chargers, and docking stations. SelfCHARGE's clients include Original Equipment Manufacturers in the commercial, medical, industrial, and consumer markets. SelfCHARGE designs and manufactures custom OEM portable power products including battery chargers, docking stations, charge cradles and battery packs. For more information, visit www.selfcharge.com.