Power-One to Buy Melcher for $53 Million

Power-One Inc., a maker of power supplies for electronic equipment, agreed to buy Melcher Group, a smaller power-supply maker in Uster, Switzerland, for $53 million in cash and assumed debt. Power-One said it expects to complete the acquisition by Monday and that it should add to earnings in 1999. Camarillo-based Power-One said it’s buying Melcher for $42 million in cash and $11 million in assumed debt to gain better access to a $2-billion market in Europe. Closely held Melcher has about 350 employees and manufacturing operations in Switzerland, Ireland and Slovakia. Power-One has about 1,700 employees. Melcher’s sales were about $42 million last year. Power-One shares fell 13 cents to $7.63 before trading was halted on Nasdaq. The announcement was made after the close of trading.