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Aeroflex Inc. announced the execution of a definitive agreement to acquire Advanced Control Components Inc. (ACC) from EMRISE Corp. for $20 M in cash. The closing of the acquisition is subject to the approval of EMRISE’s stockholders, as well as certain customary closing conditions. Closing is expected to occur in July 2010. The purchase price is subject to a working capital adjustment if the adjusted net working capital at the date of closing is less than the target set forth in the purchase agreement.
“The acquisition of ACC will have a direct and very positive impact on our Microelectronic Solution’s RF and microwave business unit platform by adding substantially to its portfolio of standard and custom-engineered control components and integrated microwave assemblies,” said John Buyko, Aeroflex’s Executive Vice President and President of the Microelectronics business segment. “ACC’s product technologies will help further position Aeroflex as one of the most complete and capable suppliers in the industry. We look forward to welcoming the ACC employees to the Aeroflex team.”
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