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Cherokee International acquired by Gores Group company
By Lisa Kerner
Charlotte, N.C., Dec. 3 - Lineage Power Holdings, Inc., a Gores Group company, completed its acquisition of Cherokee International Corp.
Cherokee, a Tustin, Calif., power supply manufacturer, becomes part of Lineage Power's newly created Embedded OEM Power division led by Jeff Frank, Cherokee's former chief executive officer, a Lineage news release said.
It was previously reported that Lineage agreed to acquire Cherokee for $3.20 per share in an all-cash transaction valued at approximately $105 million.
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