UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549






                                   FORM 8-K

                                 CURRENT REPORT


                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934



          Date of Report (Date of earliest event reported): December 22, 1995
                                                           (November 17, 1995)




                          EXIDE ELECTRONICS GROUP, INC.
             (Exact name of registrant as specified in its charter)



     Delaware                    0-18106                  23-2231834
(State or other                (Commission               (IRS Employer
jurisdiction of                File Number)              Identification
incorporation)                                           No.)



8609 Six Forks Road
Raleigh, North Carolina           27615
(Address of principal           (Zip Code)
executive offices)


Registrant's telephone number, including area code:  (919) 872-3020

Item 5.     Other Events.

            Exide Electronics Group, Inc. ("Exide Electronics") has entered
into a definitive agreement to acquire all of the outstanding stock of Deltec
Power Systems, Inc. ("Deltec") from Fiskars OY AB ("Fiskars") and an
affiliated company, for a purchase price of $195 million, subject to
post-closing adjustments.

            Under the agreement, Fiskars will receive approximately $157.5
million in cash and 1,875,000 shares of Exide Electronics common stock valued at
$37.5 million based upon an agreed price of $20 per share, in exchange for all
of the issued and outstanding capital stock of Deltec. In connection with the
transaction, Fiskars will enter into shareholder agreements governing certain
issues with respect to its ownership of Exide Electronics common stock and
providing for Fiskars to have two representatives on Exide Electronics Board of
Directors. The Board will be enlarged from 8 to 10 persons to accommodate the
two new members, who will take office after the acquisition becomes effective.

            The Company is in the process of arranging the necessary financing
for the purchase through its existing banks or other lenders. The Company also
is planning to raise a significant portion of the financing through issuance of
public debt securities.

            Deltec designs, manufactures, markets, sells and services a broad
line of uninterruptible power systems (UPS) products and power management
software worldwide through its principal operating subsidiaries, Deltec
Electronics Corp. based in San Diego, California and FPS Power Systems based in
Helsinki, Finland. Deltec is one of the world's largest manufacturers of
uninterruptible power systems, and is expected to have revenues of approximately
$130 million in calendar year 1995. Deltec is one of the top five global
providers of smaller UPS systems, which represents the fastest growing market
segment.

            The acquisition is expected to close in early 1996. Consummation of
the transaction is subject to completion of the applicable waiting periods under
the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and receipt of certain
approvals, and the transaction is subject to customary terms and conditions
which do not include financing.


Item 7. Financial Statements and Exhibits

(c)      Exhibits

         99.    Press Release dated November 17, 1995.
         10.    Deltec Purchase Agreement


                          EXIDE ELECTRONICS GROUP, INC.

                                    SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                    EXIDE ELECTRONICS GROUP, INC.
                                                     (Registrant)



Date:  December 22, 1995       By:   /s/MARTY R. KITTRELL

                                     Marty R. Kittrell
                                     Vice President and
                                     Chief Financial Officer


                                  EXHIBIT INDEX

     Exhibit No.    Description

         99.        Press Release dated November 17, 1995.
         10.        Deltec Purchase Agreement