Ultralife Corporation (NASDAQ:ULBI) today announced that it has entered into an Agreement and Plan of Merger ("merger agreement") with EnerSys (NYSE:ENS) under which upon closing EnerSys will acquire Ultralife Corporation in an all-cash transaction valued at approximately $320 million, including the assumption of net debt.
Under the terms of the merger agreement, which has been unanimously approved by the Boards of Directors of both companies, Ultralife Corporation shareholders will receive $16.00 in cash for each share of Ultralife Corporation common stock they own. The purchase price represents a premium of 166% to Ultralife Corporation’s closing stock price on October 26, 2026.
Strategic Benefits of the Transaction:
Ultralife is highly complementary to EnerSys and a combination creates a compelling platform for continued innovation, customer support and growth. Together, we believe EnerSys and Ultralife would be well positioned to:
Establish a unique portfolio of integrated, mission-critical power solutions by combining complementary products, engineering capabilities and application-specific design expertise;
Increase scale and broaden exposure to the large and rapidly growing defense market with capabilities across mission-critical applications in munitions, soldier power, drones, counter drones, and autonomous systems accelerating focused growth;
Expand EnerSys’ advanced defense power technology portfolio with the addition of Ultralife’s differentiated multi-chemistry capabilities, purpose-built advanced manufacturing capacity with existing security and environmental permits, and operational expertise to scale production of EnerSys’ proprietary liquid reserve battery technology; and
Deepen customer relationships by creating a broader, Foreign Entity of Concern (FEOC)-compliant product portfolio for U.S. Department of War and allied country customers.