8-K

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 and Exchange Act of 1934

Date of Report (Date of earliest event reported):  April 21, 2006

TECHNOLOGY RESEARCH CORPORATION

(Exact name of registrant as specified in its charter)

Florida	0-13763	59-2095002
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)	Identification No.)

5250-140th Avenue North, Clearwater, Florida	33760
(Address of principal executive officers)	(Zip Code)

Registrant's telephone number, including area code: (727) 535-0572

Item 1.01 Entry into a Material Definitive Agreement.

 On April 21, 2006, Technology Research Corporation (“TRC”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) by and among TRC, Automated Engineering Corporation (“AEC”), dB Technologies, Inc. (“dB Tech) and David Bailey, principal shareholder of dB Tech, to acquire AEC’s Recreational Vehicle product line including intellectual property owned by related parties (dB Tech and David Bailey).

 AEC is a privately held company located in Tampa, Florida, that manufactures electronic controls and components, and dB Tech is a privately held company that owns certain intellectual property assets and provides engineering and consulting services. AEC and dB Tech are affiliated entities.

 Under the terms of the Purchase Agreement, TRC will pay AEC and related entities a cash payment of $200,000, plus a cash payment of up to $100, 000 for the actual amount of inventory on hand at the closing.  Assuming an April 28th closing, TRC will also deliver 51,679 shares of restricted TRC stock representing a payment of $350,000 following the valuation methodology in the Purchase Agreement (that may only be sold over a three-year period beginning one year from the closing-1/3 each year), plus 22,148 shares of escrowed TRC stock representing a payment of $150,000 again following the valuation methodology in the Purchase Agreement.  The escrowed TRC stock will be earned if TRC’s sales of the acquired AEC RV products post-acquisition reach certain specified targets.  David Bailey, will also enter into a three year consulting agreement to provide engineering, marketing and product support to the Company.  The closing of the Purchase Agreement is expected to occur on April 28, 2006 and is subject to customary closing conditions, including necessary consents and approvals.

Item 8.01 Other Events.

 On April 26, 2006, TRC issued a press release announcing the execution of the Purchase Agreement.  A copy of such press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(c) The following exhibit is filed as part of this report:

Exhibit No. 99.1   Description Press release issued April 26, 2006  

SIGNATURES

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 hereunto duly authorized.

	TECHNOLOGY RESEARCH CORPORATION
Date:  April 27, 2006	By: /s/ Barry H. Black
	Name:  Barry H. Black
	Title:  VP of Finance, CFO

EX-99.1

Exhibit 99.1

TECHNOLOGY RESEARCH CORPORATION ANNOUNCES ACQUISITION OF

RECREATIONAL VEHICLE PRODUCT LINE

CLEARWATER FLORIDA, April 26, 2006 - Technology Research Corporation (TRC), (NASDAQ-TRCI), today

announced that it has entered into a purchase agreement with Automated Engineering Corporation (AEC),

dB Technologies, Inc. (dB Tech) and David Bailey, principal shareholder of dB Tech, to acquire AEC’s Recreational

Vehicle (RV) product line including intellectual property owned by related parties (dB Tech and David Bailey).

Robert S. Wiggins, TRC’s Chairman, President and CEO said, “This acquisition reinforces our commitment to

provide leadership in the RV marketplace for surge and transfer switch products. It also supports our strategy of

supplementing our company’s internal growth with targeted investments in new technologies that advance our

company’s leadership position and that provide us both revenue and bottom line growth potential in this

estimated $20 to $25 million segment of the RV market.

Ned Schiff, TRC’s Vice President of Commercial Sales and Marketing added, “This acquisition complements our

existing RV business by allowing us to offer electrical safety solutions to a broader range of RV manufacturers.

Specifically, we expect AEC’s networking capability will provide us with a leadership position for electronic

communications in Recreational Vehicles.” Schiff continued, “As part of this acquisition, David Bailey will enter

into a three year consulting agreement with TRC. David brings many years of experience in technology and

application development for the RV marketplace. He currently serves as chairman of the RV-C Connector Committee

of the Recreational Vehicle Industry Association.”

David Bailey commented “I believe that the synergies gained from combining AEC’s new product lines with TRC’s

established marketing organization will accelerate the growth of our current RV business.” David continued, “My

customers have always been the focus of our business and a critical factor for me in entering into this transaction is

TRC’s reputation for providing outstanding support to its customers.”

TRC will pay AEC and related entities a combination of cash, restricted TRC common stock and escrowed TRC

common stock representing a contingent payment that will be earned if certain specified targets are met. The closing

is expected within a week and is subject to customary closing conditions including necessary consents and approvals.

Technology Research Corporation designs, manufactures and markets electrical safety products that save lives,

protect people from serious injury from electrical shock and prevent electrical fires in the home and workplace. These

products have worldwide application. The Company also supplies power monitoring and control equipment to the

United States Military and its prime contractors.

“Safe Harbor” Statement: Certain statements made in this press release are forward looking in nature and, accordingly,

are subject to risks and uncertainties. The actual results may differ materially from those described or contemplated.

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