March 17, 2008 -- Methode Electronics, Inc. has acquired the business assets of Tribotek, Inc. (Burlington, MA), a designer and manufacturer of high current power connectors and power distribution systems for products such as power supplies, servers, rectifiers, inverters, robotics and automated test equipment, in addition to various military and telecommunications applications.
Tribotek's patented power connectors are designed to yield lower insertion force and lower voltage drop at the connection point. In addition, the connectors are designed to reliably handle a greater number of plug and unplug occurrences. The company will be integrated into Methode's Cableco Technologies business, enabling Methode to offer a more complete range of power distribution solutions and continue the evolution of its technological capabilities.
"Through the Tribotek acquisition, Methode has expanded its power connection systems and is now able to offer our customers a much broader range of power distribution products and solutions," comments Chip Bronk, general manager of Methode's Cableco Technologies. "Tribotek's advanced technology directly complements our existing Cableco offerings and extends our reach by providing a very robust power interconnect product line. This move will enable us to offer more customized solutions to better support our customers' increasingly complex power distribution needs. We are excited about the possibilities the acquisition holds for our current and future customers."
"The Tribotek acquisition is yet another example of our commitment to growing the Power Distribution segment and offering more complete solutions to our valued customers," adds David Ciembronowicz, director of sales and marketing at Methode. "We believe the acquisition will create new opportunities for growth and help us move from being a discrete components supplier to becoming a manufacturer of total product solutions."
In addition to providing Methode with an established product in the power connector market, helping to complete the link to printed circuit boards, cables and busbars, the Tribotek acquisition is also expected to help Methode advance its busbar product line. Moving forward, Methode says it will be able to design busbars that are more technically advanced and efficient, providing customers with more highly customized, higher value solutions across industries ranging from military/defense to robotics and computer/server systems.
Methode anticipates that Tribotek will be fully integrated into its Cableco business by the end of April 2008.
