Companies: EKT   

Bulgin, soon to be renamed Elektron, has bought Cambridge-based Powertron, a designer and manufacturer of 'power management tools', for a maximum £1.15m, plus the assumption of £200,000 of debt. The consideration is £325,000 of cash, £625,000 in loan notes and £200,000 extra cash payable on completion after the settlement of net assets - said to be worth £210,000. Powertron supplies principally to the rail industry and made a pre-tax proft of £260,000 on £2.4m turnover during the year to 31 May. The markets reacted well to the move, and sent the shares up 24% on the morning following the announcement, though this was from close to a 52-week low following a profits warning in late July.