Eltek Energy, a supplier of telecom power solutions, will acquire Valere Power, an ac-dc converter maker. The combined company will be called Eltek Valere and will be headquartered in the Dallas-Fort Worth area. The combined company will be the second largest provider of dc power systems in the world with revenues of more than $500 million.
Andy Marsh, president and CEO of Valere, will be the CEO of Eltek Valere. Ken Vines, Valere’s CFO, will continue in the same position with the combined company. The rest of the management team will be composed of executives from both companies.