Andrew Acquires Precision Antennas
Andrew Corp. has acquired Precision Antennas Ltd., a Stratford, England-based provider of antennas for terrestrial and satellite communications systems.
Under the agreement, Andrew paid approximately $26 M to acquire the subsidiary of UK-based Cobham plc. Precision Antennas designs and produces microwave antennas for use in carrying point-to-point radio signals, primarily for cellular network backhaul. In addition, the company produces couplers and earth station antennas. Its products are used today primarily by customers in the European market.
"Precision Antennas is a strong complement to Andrew's existing portfolio of antenna systems and products," said John DeSana, group president, Antenna and Cable Products Group, Andrew Corp. "The addition of Precision strengthens Andrew's market position in microwave antennas and enhances our ability to support the future needs of existing and new customers."
Precision Antennas had calendar year 2005 sales of $46 M and the transaction is expected to be slightly accretive to earnings over the next 12 months. Precision Antennas' approximately 500 employees at three sites in Stratford now are part of Andrew's Antenna and Cable Products Group.
"Precision Antennas is a strong business which has grown rapidly over the last two years under Cobham's ownership," said Tom Burwood, managing director, Precision Antennas. "The combination of Andrew's global focus on supporting customers' communications networks and our excellent products gives me confidence we can go from strength to strength."