Astronics Corporation Announces Acquisition of Telefonix Inc.
East Aurora, NY | October 27, 2017–Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, today announced that it has entered into a definitive agreement to acquire substantially all of the assets of Telefonix Inc. and a related company, Product Development Technologies, LLC, (together as “Telefonix PDT”) for approximately $104 million in cash, funded with Astronics’ senior revolving credit facility. The acquisition is expected to close by year end, and is subject to typical closing conditions, including a review under the Hart-Scott-Rodino Antitrust Improvements Act.
Telefonix PDT, located in Waukegan and Lake Zurich, Illinois, designs and manufactures advanced in-flight entertainment and connectivity equipment, as well as providing industry leading design consultancy services for the global aerospace industry. The company’s products include wireless access points, file servers, content loaders, passenger control units and cord reels, as well as engineering services for its customers.
Power, Power, Power... it used to be location, location, location, but with the recent airline announcements to expand off-aircraft data services (internet, mobile phone, SMS, etc), Astronics is excited about the complementary nature of these systems with our world leading EmPower® in-seat PED power systems. Most airlines installing new data services on their aircraft are also expanding EmPower® into all seats on their fleet because they realize depleted passenger batteries do not make money.”