Exelis Buys British Electronic Component Company

Thu, 04/12/2012 - 1:50pm
The Associated Press

McLEAN, Va. (AP) — Exelis Inc., the former defense unit of manufacturer ITT Corp., said on Thursday that it bought a small British maker of high-voltage power supplies. It didn't disclose the purchase price.

The acquired company, called Applied Kilovolts Group Holdings Ltd., is based in Sussex, England, and had revenue last year of $13.2 million, according to Exelis. It said Applied Kilovolts supplies components for medical, scientific, pharmaceutical and food safety instruments. It will become part of Exelis' existing power solutions business.

Adding the company expands Exelis' technical capability, global presence and customer base, Exelis said.

Exelis shares rose 27 cents, or 2.3 percent, to $11.74 on Thursday.


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