ORLANDO, Fla., Nov. 30 (UPI) -- U.S. electronics systems company API Technologies Corp. has completed its acquisition of substantially all of the assets of Commercial Microwave Technology Inc.
The acquisition, for $8.2 million in cash, adds complementary products to API's product line for aerospace, defense and commercial industries.
CMT, which has headquarters in California, manufactures RF and microwave filters. Products include off-the-shelf and custom-designed lumped element filters, cavity filters, combline filters, and waveguide filters, for use in satellites, surveillance and remote metering.
"CMT brings to API a complementary RF and microwave product line, a strategic presence within the high-reliability space market and approximate annual revenues and EBITDA of $8 million and $2.5 million, respectively," API Chairman and Chief Executive Officer Brian Kahn said,."API will provide CMT with an expanded sales channel, superior manufacturing capabilities and greater financial scale."
Bel Lazar, president and chief operating officer of API, said that with the acquisition of CMT, API "will expand its reach within the commercial and public safety markets, opening up new customer channels for our products."
