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Astronics To Buy Freedom Communication Technologies For $22M

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Astronics Corporation (NASDAQ: ATRO) will acquire Freedom Communication Technologies for $22 million in cash.

In 2018, Freedom Communication Technologies had $11 million in revenue and is expected to contribute approximately $10 million in revenue in the second half of 2019.

Astronics provides technologies for the global aerospace, defense, and other mission critical industries, and Freedom Communication develops and manufacturer test equipment for the land-based mobile radio test market.

“FCT is a leader in wireless communications testing, primarily for the civil land mobile radio market. Their market focus and technology complements those we already have, and together, we will offer a broader range of test solutions to an expanded market,” said Peter Gundermann, CEO of Astronics. “The acquisition gives us a stronger market position in the radio test arena, a strong brand for our offerings and a larger addressable market. We are excited to expand our test capabilities and to bring FCT on board with our Test business.”

Astronics shares traded higher by 2.1% to $41.09 at time of publication.

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