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Ametek buying programmable-power unit

Electronic instrument maker Ametek Inc., Paoli, said today that it has agreed to acquire the programmable power business of Xantrex Technology Inc. for $120 million in cash.

Electronic instrument maker Ametek Inc., Paoli, said today that it has agreed to acquire the programmable power business of Xantrex Technology Inc. for $120 million in cash.

Xantrex's programmable power division, which is based in San Diego, is involved in providing alternating current and direct current programmable power supplies that are used to test electrical products. Its products are used in design verification testing, manufacturing, quality assurance and regulatory compliance by its customers in a wide range of industries; including aviation, military, and general electronics, Ametek said in a news release.

The division has annual sales of about $80 million. The parent company, Xantrex Technology Inc., is being sold to Schneider Electric announced today.

The acquisition is expected to close in the third quarter.