CUI Global agreed to sell its power supply business to Bel Fuse for $32 million in November 2019, after selling its electromechanical components business the previous month through a $15 million management buyout. Both domestic sales closed in 2019. The moves marked a near-total exit from electronics as the parent shifted toward energy infrastructure and services.
What CUI Global sold in 2019
The transactions covered two businesses that had been grouped in CUI Global’s power and electromechanical segment. The sale prices refer to the businesses, not to the parent company as a whole.
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| Business | Buyer or transaction | Value and timing | What the business included |
|---|---|---|---|
| Electromechanical components | Management buyout; several senior managers joined the new CUI Devices company | $15 million; sale announced in October 2019 and later reported closed during 2019 | Connectors, speakers, buzzers, encoders, sensors and industrial control solutions |
| Domestic power supply | Bel Fuse | $32.0 million; agreement reported November 13, 2019, and sale closed during 2019 | External and embedded AC-DC supplies, DC-DC converters and digital point-of-load modules |
EE Times reported that electromechanical products represented approximately 36% of the segment’s $76.4 million in 2018 revenue. That percentage applies to the power and electromechanical segment, not to CUI Global’s total company revenue. EE Times, November 13, 2019
The later SEC filing confirms both domestic sales had closed in 2019. It describes the former segment as serving original equipment manufacturers and spanning power supplies, converters, point-of-load modules, and electromechanical products. Orbital Energy Group Form 10-Q for the period ended June 30, 2020
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- Constructed from robust and resilient components to support enduring use.
- Incorporates integrated safeguards to promote secure and stable operation.
- Offers broad adaptability across various devices and configurations.
- Designed with energy-saving considerations to reduce power usage without compromising output.
- Simplified upkeep and cleaning for sustained reliability.
Why the parent sold the businesses
CUI Global said the divestitures would help it transform into a diversified energy services platform built on its existing product portfolio and gas infrastructure capabilities. CEO Jim O’Neil described the sale as a way to unlock value in the segment. EE Times also reported plans for an aggressive acquisition strategy across electric power, oil and gas, and telecommunications infrastructure. These were management’s stated rationale and plans, not an independent assessment of the strategy’s prospects.
Bel Fuse presented the acquisition as a way to strengthen its Power Group by combining complementary capabilities, sales channels and customer relationships. The electromechanical managers who formed CUI Devices, meanwhile, expressed confidence in operating that business independently. EE Times’ contemporaneous account includes the executives’ statements.
What remained with the parent
The June 2020 SEC filing said CUI Japan and CUI-Canada were still classified as held for sale as of June 30, 2020, and that the company expected the component operations to be sold during 2020. The reviewed filings and announcements do not establish whether or when those remaining operations were ultimately sold.
EE Times also reported in 2019 that CUI Global retained a 20% equity interest in Virtual Power Systems, a machine-learning software company focused on data-center power infrastructure. The article noted that Virtual Power Systems had raised $17 million in Series B funding earlier that year. Those are historical reports; they do not verify CUI Global’s current stake or the company’s present status. EE Times, November 13, 2019
CUI Devices later became Same Sky
The management buyout-created CUI Devices is a separate part of the story from the parent’s sale of its power supply business. On September 19, 2024, Future Electronics announced that CUI Devices had adopted the name Same Sky. The announcement said model numbers, pricing, supply chain, business processes, quality and customer support would continue at that time. It described the product range as interconnect, audio, thermal management, motion, relay, sensor and switch solutions. Future Electronics’ September 19, 2024 announcement
That distributor announcement documents the rebrand and the continuity it described on its publication date. It does not establish current ownership, inventory, support availability, or compatibility for any particular component. Anyone sourcing a part should confirm its current specifications and status with the supplier.
How the timeline fits together
- October 2019: CUI Global sold its electromechanical components business through a $15 million management buyout, creating the standalone CUI Devices business.
- November 2019: CUI Global agreed to sell its domestic power supply business to Bel Fuse for $32.0 million.
- By the end of 2019: Both domestic transactions had closed, according to the later SEC filing.
- June 30, 2020: CUI Japan and CUI-Canada remained classified as held for sale in the SEC filing.
- September 19, 2024: Future Electronics announced that CUI Devices had become Same Sky.
The evidence supports a clear historical account of the domestic divestitures and the later CUI Devices rebrand. It does not establish the final disposition of the remaining Japan and Canada operations or provide a basis for claims about current ownership, investment status, product availability or compatibility.
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