Astronics Corporation has entered into an agreement to acquire substantially all of the assets of Telefonix and a related company, Product Development Technologies, (together as “Telefonix PDT”) for approximately US$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.
Telefonix PDT designs and manufactures in-flight entertainment and connectivity equipment, as well as providing design consultancy services for the 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.
