Astronics Corporation Acquires Enhanced Vision Systems Provider Max-Viz, Inc.

Astronics Corporation ATRO today announced that it has acquired privately-held Max-Viz, Inc. (“Max-Viz”), a market-leading developer and designer of Enhanced Vision Systems (EVS) for fixed and rotary wing aircraft through both OEM and aftermarket channels in the general aviation, commercial and military aerospace markets for $10 million in cash. Additional purchase consideration of up to $8.0 million may be paid by Astronics if Max-Viz achieves certain revenue targets in 2013, 2014 and 2015. Founded in 2001 in Portland, OR, Max-Viz had 2011 revenue of $5.4 million and backlog of $3.0 million at the end of 2011, and is projecting 2012 full-year revenue in the range of $7.0 million to $8.0 million. Max-Viz's EVS product line fuses infrared and visible imagery allowing real-time display to pilots for increased visibility in adverse weather conditions, such as darkness, precipitation, fog, dust and smoke.