Astronics Corporation (ATRO) announced that it completed on February 28, 2014, the acquisition of all of the assets and liabilities of EADS North America's Test and Services division (EADS T&S).
The acquisition cost approximately $53 million in cash plus a preliminary net working capital adjustment of $17 million. EADS T&S will be reported in Astronics' Test Systems segment.
Astronics had previously announced that it entered into a definitive agreement to acquire EADS T&S on January 21, 2014.
EADS T&S, located in Irvine, California, is a leading provider of highly engineered automatic test systems (ATS), subsystems and instruments for the semi-conductor, consumer electronics, commercial aerospace and defense industries. EADS T&S provides fully customized testing systems and support services for these markets. It also designs and manufactures test equipment under the well-respected test instrument brands known as Racal and Talon.