Thursday, September 25, 2008
Cherokee International Acquired By Lineage Power Holdings
Tustin-based Cherokee International, a manufacturer of power supplies for the datacom, telecom, medical, and other industries, is being acquired by Lineage Power Holdings, the firm said today. According to Cherokee, Lineage Power Holdings, which is owned by private equity firm the Gores Group, will pay approximately $105M in cash for the firm. The deal is worth $3.20 per share of common stock of Cherokee International, which is publicly held on the NASDAQ. The firm said Cherokee will become a division of Lineage. No details on employment changes or management were detailed in the announcement.