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NEWARK, N.Y., 3 Nov. 2008. Battery supplier Ultralife Corp. in Newark, N.Y., is expanding into the standby power market with its announced intention to acquire U.S. Energy Systems Inc. in Riverside, Calif. U.S. Energy Systems specializes in standby power installation and power management services.
One year ago Ultralife acquired two affiliated companies in Clearwater, Fla.: Stationary Power Services Inc., an infrastructure power management services company, and Reserve Power Systems Inc., a provider of lead-acid batteries for standby power systems.
Ultralife officials say their acquisition of U.S. Energy Systems will be for $2.85 million in cash and as many as 200,000 unregistered shares of Ultralife Corp. The sale should close by the end of this year.
U.S. Energy Systems also specializes in uninterrupted power supply systems, DC power systems and switchgear/control systems for the telecommunications, utilities, technology, petrochemical, financial, and information services industries. In 2007, U.S. Energy generated $6.3 million in revenue.
For more information contact Ultralife online at www.ultralifecorp.com.
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