Radyne To Buy AeroAstro
Radyne Corp. plans to acquire AeroAstro Inc., Radyne announced July 5.
Radyne will pay about $17.3 million in cash and $750,000 in stock as well as assume $500,000 in debt for AeroAstro, which designs and builds microsatellites and small satellites and related technologies for the U.S. Air Force, NASA and space vehicle integrators. In 2006, AeroAstro reported revenues of about $12.4 million.
The transaction has been approved by the boards of both companies and is expected to close within the next 30 days. Radyne intends to operate AeroAstro as a subsidiary, retaining its existing management and infrastructure, which includes facilities in Ashburn, Va.; Albuquerque, N.M.; and Littleton, Colo.