Market Overview

Heico Buying Europe's 3D Plus to Grow Space and Medical Business, Terms Undisclosed

Share:

HEICO Corporation (NYSE: HEI.A) (NYSE: HEI) today announced that its Electronic Technologies Group has entered into an agreement to acquire rapidly-growing 3D Plus, S.A. ("3D"). Closing, which is subject to governmental approvals and standard closing conditions, is expected to occur within 90 days. 

Financial terms were not disclosed, but HEICO stated that it expects the acquisition to be accretive to its earnings within the year following closing.

Founded in 1996, 3D Plus is a leading designer and manufacturer of 3-dimensional microelectronic and stacked memory products used predominantly in satellites. 3D's products are also utilized in medical equipment. 3D's patented designs provide high reliability memory and circuitry in a unique and stacked form which saves space and weight. A majority of 3D's revenues are derived from sales in growing markets outside of the United States, though it also derives important revenues from the United States.

3D employs approximately 120 people at its new, state-of-the-art design center and factory located in Buc, France. The company also maintains a North American sales and marketing location in McKinney, Texas and technical center in Fremont, California. 3D Plus will continue to operate in those locations after closing.

Posted-In: M&A News

 

Related Articles (HEI)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Basic Materials Sector On Fire

Market Poised for Big Move