XP Power announced that it acquired power supply manufacturer Glassman High Voltage for $44.5 million, expanding its portfolio of power supplies used in applications such as chip manufacturing, medical diagnostics and test equipment. On Thursday, the power electronics supplier said that the acquisition would help expand its business in the industrial sector.
“Glassman fits directly with our strategy of growing our high power and high voltage capabilities to complete our product offering and expand our addressable market," said Duncan Penny, chief executive of XP Power, in a statement. The acquisition allows the company to “offer a full suite of products from miniaturized low power modules to high power rack mount high voltage solutions.”
The acquisition follows XP Power's acquisition of radio frequency power supply company Comdel in 2017 and Emco High Voltage Corporation in late 2015. Last year, the company established a new radio frequency division following the $23-million Comdel deal. XP Power shelled out around $12 million for Emco, which manufactures DC-DC converters primarily for industrial and medical electronics.