TransDigm said that under the definitive merger agreement it will acquire all outstanding shares of Aerosonic at $7.75 per share for a total of $39 million on a fully diluted basis.
The cash consideration represents a premium of approximately 59.8 percent to Aerosonic's closing share price last Friday.
"Aerosonic designs and manufactures highly engineered, proprietary air data sensing, test and display components for use primarily in the business jet, helicopter and military markets," said Nicholas Howley, chairman and chief executive officer of TransDigm.
"We are pleased to have an agreement to acquire Aerosonic. The proprietary nature of these products, along with aftermarket content, fit well with our overall business strategy."
Added Doug Hillman, Aerosonic's president and chief executive officer: "We are excited to have Aerosonic join a growth-oriented partner and industry leader.
"This merger will allow Aerosonic to leverage its proprietary air data and display technologies via TransDigm's broad market presence and financial strength, enhancing the growth prospects of the TransDigm team."
TransDigm is expected to start its tender offer for Aerosonic shares by May 9. The purchase is subject to customary closing conditions, "including valid tender of common shares representing at least a majority of Aerosonic's voting power on a fully-diluted basis."
Upon successful completion, TransDigm will acquire common shares not tendered through a second-step merger transaction.