Aeroflex Acquires Business of Willtek Communications
April 13, 2010
PLAINVIEW, NY - Aeroflex Inc. announces the execution of a definitive agreement to acquire substantially all of the operating assets of Willtek Communications GmbH, from Wireless Telecom Group Inc. for $2,750,000 in cash and the assumption of certain liabilities. The closing of the acquisition is subject to certain customary closing conditions and is expected to occur on or about April 30, 2010. The cash purchase price is subject to a downward post-closing adjustment if the adjusted net assets sold at the date of closing are less than the adjusted net assets target set forth in the purchase agreement.
“The acquisition of Willtek will help our Test Solutions group continue to provide our wireless customers superior products and services with the most advanced technology,” says Len Borow, Aeroflex’s chief executive officer. “We welcome all of the Willtek employees to the Aeroflex team.”
Aeroflex Inc. provides microelectronic components and test and measurement equipment used by companies in the space, avionics, defense, commercial wireless communications, medical and other markets.