Astronics Acquires EADS North America's Test And Services Division

Astronics Corporation (ATRO) announced that it completed on February 28, 2014, the acquisition of all of the assets and liabilities of EADS North America's Test and Services division (EADS T&S).

The acquisition cost 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 leading provider of highly engineered automatic test systems (ATS), subsystems and instruments for the semi-conductor, 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 well-respected test instrument brands known as Racal and Talon.