SURREY, ENGLAND – Electronics manufacturer DiscoverIE Group has completed the acquisition of Silver Telecom, a manufacturer of power-over-Ethernet modules.

DiscoverIE paid an initial cash consideration of GBP21 million ($26.6 million), and will also make earn-out payments of up to GBP23 million ($29.1 million) over the next four years, subject to the acquired company's performance.

Silver Telecom was founded in 1997 and has customers in over 70 countries. The company’s operations are closely aligned with DiscoverIE’s target markets and, post-acquisition, the firm will be integrated into the group’s Magnetics & Controls division, while retaining its distinct brand, DiscoverIE said in a release.

"The acquisition of Silvertel continues our strategy of building a differentiated, international, growth focused electronics group with strong operating margins," said DiscoverIE CEO Nick Jefferies. "The transaction brings another high quality business with strong alignment to our target markets into DiscoverIE, which is accretive to both underlying earnings and margins."

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