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OSLO, NORWAY – Telecom power systems supplier Eltek is buying Valere Power for cash and stock worth up to $130 million, the company said today. Eltek will pay Valere shareholders $83 million in cash plus stock equal to 9.1% of Eltek Energy AS and 9.9% of a joint venture. The total value of the acquisition is between $120 and $130 million, Eltek said. Valere Power is backed by private equity investors, including Alcatel Ventures, Dali-Hook Partners, JP Morgan Partners and Sierra Ventures. Valere Power had revenues of $88 million in 2006 and expects revenues up to $130 million in 2007, Eltek said. Valere's first-quarter revenues grew 44% year-over-year to $26.2 million. Valere chief executive and founder Andrew Marsh will become CEO of the new company, while the current head of Eltek Energy, Knut Aven, will become vice president for international telecom sales.

NANTOU, TAIWAN – Universal Scientific Industrial Co., a top 10 EMS company, today announced March consolidated net revenues of NT$5.33 billion, up 24% sequentially and 3% year-over-year. On a non-consolidated basis, monthly net revenues were NT $3.4 billion, up 31% sequentially, but down 9% year-over-year.

VANCOUVER – Nam Tai Electronics chief executive Warren Lee has resigned, effective May 31, to return to Hong Kong investment company Yu Ming Investments as managing director. Nam Tai chairman and founder M. K. Koo will become interim chief executive.

Lee spent several years at Yu Ming before coming to Nam Tai.

HERTFORDSHIRE, UK – Desco Industries, Inc., a manufacturer of ESD control products in Chino, CA, has acquired 100% of the shares of Vermason Ltd. Vermason manufacturers and markets ESD control products and equipment for protection of sensitive electronic devices and assemblies. Vermason will continue to operate in the same location.

EL SEGUNDO, CA – Telecom OEMS are expected to spend nearly $41 billion on equipment this year, the highest annual level since 2002, says iSuppli. Spending will be up 1.6% from 2006, after rising 10.7% in 2006 and 8.3% in 2005. iSuppli estimates $9 billion will be spent on IPTV-related communications equipment in 2007. Last year, OEMs spent primarily on access equipment. In 2007, iSuppli expects carriers to continue access-equipment spending at 2006 levels, while significantly increasing investments in their core networks. Global IPTV subscribers will soar to 105.8 million in 2011, rising at a 98% CAGR from 3.4 million in 2006, iSuppli predicts. Telecom OEMs’ IPTV budgets will have to grow to account for 20% of their total capital spending by 2011, says the firm. The only region exhibiting spending declines is Japan, where fiber-to-the-home (FTTH) deployment has slowed. However, Japanese spending should recover during the next few years.