Bel Fuse (BELFB) (BELFA) announced the acquisition of dataMate from Methode Electronics (MEI). Bel acquired dataMate for $16M, including $1M of deferred consideration. With annual sales of approximately $18M and operating margins in line with Bel’s corporate averages, the dataMate acquisition is expected to be immediately accretive to Bel’s financials. The initial consideration of $15M was funded with a combination of cash on hand and borrowings from the company’s existing revolving credit facility.
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