Astronics Corp., a provider of advanced, high-performance lighting, electrical power, avionics databus products, and automated test systems for the global aerospace and defense industries, has acquired certain assets and liabilities from AeroSat Corp., a supplier of aircraft antenna systems, for $12 million in cash, plus the potential for an earn out. Astronics expects the earnout will be between $5 and $20 million.
AeroSat designs and manufactures fuselage and tail-mounted antenna systems for commercial transport, business jet, and military aircraft customers around the world. Its antenna systems are typically used to enable satellite and ground-based communication to aircraft, commonly for broadband and TV applications. AeroSat is currently involved in a range of FAA certification efforts with Gogo Inc. for Ku Band send/receive satellite antennas intended for Gogo's international airline customers.
Peter J. Gundermann, CEO of Astronics, comments, "We are pleased to have AeroSat as part of Astronics. We have long been involved in helping aircraft passengers remain productive by powering their electronics devices. Now, with AeroSat, we also provide antenna systems that enable broadband connectivity. We believe AeroSat's capabilities fit in well with our vision for the future."
AeroSat, which is based in Nashua, N.H., and currently has approximately 40 employees, is expected to have sales of approximately $12 million to $14 million in calendar year 2013. AeroSat's president, Dennis Ferguson, will continue to run the AeroSat operations.
Source: Astronics Corp.
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