DiscoverIE Group completed the acquisition of Silvertel for £44m.

DiscoverIE Group, an international group of businesses that design and manufacture innovative electronic components for industrial applications, completed the acquisition of Silvertel, which specialises in the design and development of advanced power modules and advanced telecom interface solutions, for £44m. "The acquisition of Silvertel continues our strategy of building a differentiated, international, growth-focused electronics group with strong operating margins. 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. Silvertel has an excellent product range that is highly complementary to our existing Group and will gain access to our wider range of industrial connectivity target customers. We are looking forward to welcoming the Silvertel team to the discoverIE Group," Nick Jefferies, discoverIE Group Chief Executive.