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Benchmark Electronics to acquire Secure Technology

By Ryan Maass
Benchmark Electronics to acquire Secure Technology
Benchmark Electronics, located in Angleton, Texas, provides integrated manufacturing, design, and engineering services for aerospace and defense industries. Photo by Panaramax/CC.

ANGLETON, Texas, Oct. 22 (UPI) -- Benchmark Electronics announced it will acquire Secure Communication Systems, Inc. for $230 million.

Benchmark Electronics is a technology and communications manufacturer and solutions provider for aerospace and defense industries. Secure Communication Systems, Inc. and its subsidiaries are collectively referred to as Secure Technology, a leading engineering products provider. Benchmark President and Chief Executive Officer Gayla Delly says the acquisition will allow her company to provide customers with a wider portfolio of products and services.

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"We are very excited about the strategic acquisition of Secure Technology and look forward to offering our customers an expanded portfolio of highly engineered solutions and enhancing value creation for our shareholders," Delly said. "Together with the Secure team, we will have new opportunities with customers in our industrial markets, which include the aerospace and defense sectors."

Secure Technology CEO Allen Ronk concurred in his statement, saying the transaction will benefit both parties.

"This financially attractive acquisition exceeds our targeted return thresholds and aligns well with our disciplined capital allocation framework, while positioning Benchmark to drive higher value for our shareholders," he said.

The purchase is expected to go through by the end of fiscal 2015, pending regulatory approval.

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