Bel Fuse buying EOS’ India unit, it says

Jersey City-based Bel Fuse Inc. has agreed to purchase EOS Power India Private Ltd., it announced Tuesday.

The company, which supplies circuit products, said it has reached the agreement with EOS Power Panama Inc. for substantially all of the shares of the Mumbai-based business.

“Our strategy to increase Bel’s Power Solution presence in the industrial and medical markets led us to acquire CUI last year, and the addition of EOS fits squarely into this plan,” Bel CEO Daniel Bernstein said in a prepared statement. “EOS has developed a strong line of high-power density and low-profile products with high convection ratings that support these same markets. We have worked with EOS over the past five years in marketing these products and, under our guidance, we are confident that we will be able to increase our revenue within Bel’s distribution partners and customers.”

The all-cash transaction is expected to close in the first quarter. Other financial details were not disclosed.