BELFA News & Events

Bel Fuse (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.

Methode Electronics, Inc. (MEI) announced the sale of its dataMate copper transceiver business to Bel Fuse (BELFB). "This deal furthers our stated strategy of portfolio refinement and debt reduction while freeing resources for Methode to concentrate on its high-density power delivery products and streamline our facilities footprint," said Jon DeGaynor, President and CEO, Methode Electronics. "We are pleased to have found a path for dataMate to expand and accelerate development of its innovative data-over-copper solutions as part of the Bel Fuse portfolio."