RF and microwave technology specialist API Technologies to acquire to defence RF and microwave products focused companies Inmet and Weinschel.
Pursuant to the terms of the definitive agreement, API will acquire 100% of the shares of the Acquired Companies for a total purchase price of $80.0 million.
Robert Tavares, President and Chief Executive Officer of API Technologies, stated: “The acquisitions of Inmet and Weinschel strengthen API's product portfolio and scale in the RF, microwave, and microelectronics markets, and are immediately accretive to API's cash flow and earnings. The Inmet and Weinschel brands are well recognized for innovative and reliable Microwave and RF solutions for Commercial Aerospace, Communications and Defense applications. We are very excited to welcome the Inmet and Weinschel employees to the API business. The addition of the Inmet and Weinschel products to our existing portfolio will enable us to better serve our customer needs with a broader set of component and subsystem solutions.”