Xp Power Regulatory News (XPP)

28 Oct 2005 09:30

XP Power PLC28 October 2005 28 October 2005 XP Power plc ("XP" or "the Group") Acquisition of XP Engineering Services XP, one of the world's leading providers of power supply solutions to theelectronics industry, announces the acquisition of the remaining 80% of theissued share capital of XP Engineering Services Limited ("XPES") that it doesnot already own for a consideration of £480,000 in cash. XPES provides value added engineering services that enable its customers tointegrate power supplies into their end user equipment more easily and costeffectively. This process may involve incorporating several power supplies intoone chassis, adding signals, special housings, thermal and EMC management andspecific cable harnesses or connectors. XP has worked very closely with XPES over the last four years and virtually allof its revenue comes from the Group. For the year ended 31 March 2005, XPES had an unaudited profit after tax of£163,902. The net assets acquired are expected to have a fair value ofapproximately £130,000 of which £38,000 is expected to be cash. The Directors of XP believe that the acquisition of XPES will expand the Group'svalue added engineering capabilities, enhance the Group's margins as more of theintellectual property in this type of offering is owned by XP; and furtherdevelop more standard products and platforms to enlarge XP's product offering. - Ends - Enquiries: XP Power plc 0118 984 5515Larry Tracey, Executive ChairmanJames Peters, Deputy ChairmanDuncan Penny, Chief Executive Officer Weber Shandwick Square Mile 020 7067 0700Nick Dibden or Kevin Smith Notes to editors: XP Power plc provides power supply solutions to the electronics industry. All electronic equipment needs a power supply. Power supplies convert theincoming AC supply into various levels of DC voltages to drive electroniccomponents and sub-assemblies within the end user's equipment. XP Power segmentsits business into Communications, Defence and Avionics, Industrial and Medical.By servicing these markets XP Power provides investors with access to technologyand industrial sectors of the North American and European electronics market. The market is highly fragmented and made up of a large number of small to mediumsized Original Equipment Manufacturers who source standard and modified standardpower supplies from several hundred power supply companies. For further information, please visit www.xppower.com This information is provided by RNS The company news service from the London Stock Exchange