Product category:
Stand-Alone Instruments
News Release from: Aeroflex
Edited by the Electronicstalk Editorial
Team on 24 May 2005
Aeroflex to acquire wireless test
specialist
Aeroflex has reached an agreement in principle to acquire the Test and Measurement Division of UbiNetics Holdings for cash of approximately $81 million.
Aeroflex has reached an agreement in principle to acquire SPG, the Test and Measurement Division of UbiNetics Holdings for cash of approximately $81 million A definitive agreement has not yet been signed
This article was originally published on Electronicstalk on 3 Oct 2003 at 8.00am (UK)
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SPG, headquartered in Melbourn, England, is a leading developer, manufacturer and integrator of wireless test and measurement solutions specific to commercial wireless product development organisations and service operators.
Its products address two primary wireless applications - infrastructure testing and mobile handset testing.
SPG's products focus on global wireless standards (ie 2/2.5G, 3/3.5G) and the supply of handset emulation products and load analysis tools that are designed to assist with the research and development of handset and infrastructure products and the effective deployment of wireless networks.
Michael Gorin, Vice Chairman and CFO of Aeroflex said: "For the twelve months ended 31st March 2005, SPG had sales of approximately $34 million and operating income before exceptional items of more than 20%".
"The acquisition is expected to both produce significant operating synergies and be accretive to fiscal 2006 earnings on both a GAAP and pro forma basis".
"In addition to the purchase price paid at closing, the seller has the opportunity to earn up to an additional $4 million, depending on the actual level of sales and gross margin in excess of agreed on levels for the twelve months ending 30th June 2006".
Len Borow, Vice Chairman and COO of Aeroflex said: "The addition of SPG's wireless test and measurement products and technologies is expected to enhance Aeroflex's wireless product portfolio and is designed to enable us to provide more complete testing solutions for the development, manufacturing and service markets and to have greater exposure to the research and development labs of the world's leading network vendors and operators".
"The UbiNetics name is recognised worldwide as a leading provider of wireless testing solutions which has garnered them a market leadership position and a top tier customer base".
"We believe that there is a significant synergy between SPG and Aeroflex's Test Solutions Division, which is expected to lead to important opportunities for future product developments".
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