Bel Fuse Inc. (Nasdaq: BELFA, BELFB) is paying $98 million for a business unit of Emerson Inc. (NYSE: EMR).
The unit, Emerson Power Connectivity Solutions, is headquartered in Bannockburn, Illinois, and provides high performance optical connectors, such as adapters, for the military, aerospace and communications sectors. The deal was annouced May 19.
Bel Fuse expects that combined with revenues from other recent acquisitions, the company's annual revenue should increase from about $283 million, more than a year ago, to $705 million. Earlier in May, the company bought the power solutions unit of Power-One Inc.