BOSTON (Thomson Financial) - Shares of Ultralife Batteries Inc. rose
Wednesday after the Newark, N.Y.-based battery maker said it agreed to acquire
Stationary Power Services and Reserve Power Systems Inc. for about $11.3
million.
Stationary Power is an infrastructure management services company and
Reserve Power is a lead-acid battery provider for standby power systems, both
headquartered in Clearwater, Fla.
The deal is expected to close by the end of the fourth quarter, Ultralife
said.
The company also anticipates that the acquisitions will add to its 2008
first-quarter earnings.
Shares rose 4.6% to $13.36.
Greg Saulnier
gs/pc
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