CUI Global agrees to sell power business to Bel Fuse

CUI Global Inc. and Bel Fuse Inc. have entered into an asset purchase agreement under which CUI Global will sell the majority of the CUI Power Business to Bel for $32 million, plus the assumption of certain liabilities and subject to closing working capital adjustments. The CUI Power Business is a division within CUI Global’s Power and Electromechanical (P&EM) segment.

Excluded from the agreement is CUI Global’s approximately 20-percent equity interest in Virtual Power Systems (VPS) related to the Intelligent Control of Energy® product line for data centers based on VPS’ proprietary Software Defined Power® infrastructure.

Jim O’Neil, CEO of CUI Global, stated, “This transaction unlocks the substantial value in our P&EM segment and is an important step in our transformation into a diversified energy services platform that is grounded in our existing product portfolio and gas infrastructure capabilities.”

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