March 3, 2014. Astronics Corp. announced that it completed on February 28, 2014, the acquisition of substantially all of the assets and liabilities of EADS North America's Test and Services (EADS T&S) division 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 provider of highly engineered automatic test systems (ATS), subsystems and instruments for the semiconductor, consumer electronics, commercial aerospace, and defense industries. EADS T&S provides fully customized testing systems and support services for these markets. It also designs and manufactures test equipment under the test instrument brands known as Racal and Talon.
EADS T&S was founded in 1950 as Racal Electronic Group and currently has about 210 employees.
Astronics provides advanced, high-performance lighting, electrical power, specialized avionics products, and automated test systems for the global aerospace and defense industries.
Astronics' strategy is to develop and maintain positions of technical leadership in its chosen aerospace and defense markets, to leverage those positions to grow the amount of content and volume of product it sells to those markets and to selectively acquire businesses with similar technical capabilities that could benefit from our leadership position and strategic direction. Astronics includes these wholly-owned subsidiaries: AeroSat, Astronics Advanced Electronic Systems Corp., Ballard Technology Inc., DME Corp., Luminescent Systems Inc., Max-Viz Inc., PECO Inc., and PGA Electronic.