Spectrum Control completes purchase of Mass. firm
Spectrum Control Inc. said it has completed its acquisition of Micro Networks Corp. of Worcester, Mass., from its parent company for $13 million.
Spectrum Control Inc. said it has completed its acquisition of Micro Networks Corp. of Worcester, Mass., from its parent company for $13 million.
The Fairview, Pa., company's unit, Spectrum Microwave Inc., in Philadelphia purchased the surface acoustic wave products and technology of Micro Networks, a subsidiary of Integrated Device Technology Inc. based in San Jose, Calif.
Micro Networks' products include integrated microwave assemblies that complement Spectrum's own microwave components business that serves the communications, information technology, military and aerospace industries, said Spectrum chief executive Dick Southworth. Micro Networks' products are used in defense and aerospace applications, including radar systems, missile defense systems, and secure communications.
Micro Networks has annual revenue of about $14 million.
Spectrum Control has facilities in Northeast Philadelphia; State College, Pa.; and Delmar, Del.
Its shares were trading early this afternoon at $8.91, down 15 cents (1.66 percent).
- Linda Loyd