Xantrex acquiring Elgar

Xantrex Technology has entered into a definitive agreement to acquire Elgar Electronics Corporation for $108 million. Elgar provides programmable power products and systems for automotive and other markets. Xantrex chairman, Mossadiq S. Umedaly, described the acquisition as "a strategically compelling transaction” for Xantrex. "Elgar is highly complementary to Xantrex's portfolio of businesses and growth strategies,” he said. The transaction is expected to close in March.