Ultra announced that DGT Holdings' shareholders have approved the deal to acquire the power conversion business by Ultra, and the transaction has been closed. The transaction was subject to the approval of at least two-thirds of the outstanding shares of common stock of DGT.
In June, Ultra announced that it had agreed to acquire the power conversion business operated by RFI Corporation, a wholly-owned subsidiary of DGT Holdings Corp. (DGTC.OB), for a cash consideration of $12.5 million.
RFI Corporation, a manufacturer of high-voltage, power conversion subsystems, is located on Long Island, New York, USA, close to Ultra's EMS Development Corp., part of the Group's Information & Power Systems division, and will be integrated into the EMS business in 2012.
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