Allison Transmission Holdings Inc., a U.S. commercial and defense fully-automatic transmissions maker, has acquired electric vehicle systems in two separate deals for a combined $132 million.

Allison, which reported first-quarter revenues of $675 million, bought the electric vehicle systems units of AxleTech International and London-based Vantage Power Ltd.

Under the deal, the company paid $123 million to buy the assets of AxleTech’s electric vehicle systems division, which makes electric axles for medium- and heavy-duty trucks and buses.

Allison also paid $9 million to acquire 100 percent of the stock of Vantage Power and could pay an additional amount of up to $8 million over the next three years if certain conditions are met.