Aeroflex Announces Agreement to Acquire Spectrum Analyzer Assets from Lignex-1
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Press release date: January 6, 2011
Stevenage, United Kingdom and Seoul, South Korea - January 6, 2011. Aeroflex Limited ("Aeroflex" or the "Company"), a wholly owned subsidiary of Aeroflex Holding Corp. (NYSE:ARX) announced today it has signed an asset purchase agreement to acquire the spectrum analyzer assets from LIGNex1 Co., Ltd ("LIGNex1"). The primary assets to be acquired under the transaction include bench-top spectrum analyzer product lines that Aeroflex has offered under its own brand. These products include the 2399C, 2394A, 2395A spectrum analyzers as well as the newer 3250 Series spectrum analyzers, along with all the respective intellectual property. The closing is subject to certain delivery requirements by LIGNex1, as well as certain customary closing conditions.
"The long relationship with Aeroflex and LIGNex1 will allow a smooth transition of this product line without any loss of customer support throughout the process" said Robert Vogel, President of Aeroflex Test Solutions. Mr. Vogel continued, "The addition of these spectrum analyzer products will complement our industry competitive instrument product portfolio."
"We are confident that Aeroflex will continue to provide our customers with a world class product and customer support" said Mr. JS Kim, Senior Manager, Overseas Marketing and Business Development of LIGNex-1.
Aeroflex Incorporated is a leading global provider of microelectronic components and test and measurement equipment used by companies in the space, avionics, defense, commercial wireless communications, medical and other markets.
LIGNex1 Co., Ltd. develops and produces a wide range of advanced precision electronic systems including missile, underwater weapon systems, radars, electronic warfare, avionics, tactical communication systems, fire control systems, naval combat systems, and electro-optics. As well as developing new weapon systems for the Armed Forces of Korea, the company exports to global customers and finds new commercial and defense applications to diversify their customer base and markets. The company was founded in 1976 and is based in Seoul, South Korea.
For more information, contact: Andrew Kaminsky Aeroflex - Corporate (516) 752-6401 email@example.com
James E. De Broeck Aeroflex - Aeroflex Test Solutions (316) 522-4981 firstname.lastname@example.org