Ultralife Acquires McDowell Research

Ultralife Batteries Inc. of Newark, New York, has agreed to acquire the assets of McDowell Research Ltd. of Waco, Texas, for approximately $25 million.

McDowell designs and manufactures power solutions and accessories to support military communications systems. The company sells its products to all branches of the U.S. military, including Special Operations Forces, and uses a General Services Administration contract. Additionally, the company sells to foreign defense organizations and U.S. prime contractors.

Ultralife anticipates that this acquisition will be accretive in 2006. Members of the McDowell management team will be retained as well as the McDowell brand.