Cash Technologies, Inc. has notified that its CPI Holdings, LLC subsidiary dba Champion Parts has acquired certain turbocharger technology assets of Turbomotive, Inc. and Robert McKeirnan, its founder for $1.75 million.

McKeirnan has years of experience with turbo-machinery development, holds numerous patents in bearing and other mechanical technologies and is Director of Manufacturing at Capstone Turbine Corporation, a leading developer of microturbine generators.

Champion Parts, Inc. engages in the remanufacture and sale of replacement fuel system components and air conditioning compressors for automobiles, trucks, and marine applications.

Post acquisition, the company will integrate the turbocharger products to its product lineup under the brand name Champion Performance(TM).

The company intends to manufacture the turbochargers in its 210,000 square foot facility in Hope, Arkansas, and distribute them to its retail customers, which represent more than 15,000 retail stores in the U.S.

In addition, the products will also be marketed to foreign distributors and vehicle manufacturers.

Cash Technologies, Inc., through its subsidiary, Claim-Remedi Services, Inc., provides software and services in the healthcare sector.