Astronics ac­quires EADS North Amer­ica Test and Ser­vices di­vi­sion

SP's MAI - - CORPORATE -

Astronics Cor­po­ra­tion (ATRO), a leading provider of ad­vanced tech­nolo­gies for the global aero­space and de­fence in­dus­tries, an­nounced that it com­pleted on Fe­bru­ary 28, 2014, the ac­qui­si­tion of sub­stan­tially all of the as­sets and li­a­bil­i­ties of Air­bus North Amer­ica’s Test and Ser­vices di­vi­sion (EADS T&S) for ap­prox­i­mately $53 mil­lion in cash plus a pre­lim­i­nary net work­ing cap­i­tal ad­just­ment of $17 mil­lion. EADS T&S will be re­ported in Astronics’ Test Sys­tems seg­ment.

Astronics had pre­vi­ously an­nounced that it en­tered into a de­fin­i­tive agree­ment to ac­quire EADS T&S on Jan­uary 21, 2014.

EADS T&S, lo­cated in Irvine, Cal­i­for­nia, is a leading provider of highly en­gi­neered au­to­matic test sys­tems (ATS), sub­sys­tems and in­stru­ments for the semi­con­duc­tor, con­sumer elec­tron­ics, commercial aero­space and de­fencwe in­dus­tries.

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