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CUI Global and Bel Fuse entered into an asset purchase agreement under which Bel Fuse will acquire the majority of CUI Global's Power business for $32 million, plus assumption of certain liabilities.
CUI Global's UK subsidiary Orbital Gas Systems Ltd was awarded a contract worth approximately $1.4 million by National Grid to deliver 13 IRIS-RTU systems and associated electrical kiosks. Delivery begins in March 2017 with final delivery expected in Q3 2017.