Power
Power Sources Unlimited Buys Assets of 1U Power
Power Sources Unlimited has signed and executed a definitive agreement to acquire the assets of 1U Power LLC for an undisclosed amount. The acquisition is expected to close in late December 2010. The Company will finance the acquisition using available cash and expects the acquisition will become accredited to earnings in mid-fiscal 2011.
Ray Newby, President and CEO of Power Sources Unlimited, Inc. stated, We expect that this acquisition will enhance our customer base , aggressive marketing campaign, build-out strategy and provide the opportunity for accelerated market share and future growth in sales and profitability