Aeroflex Announces Agreement to Acquire Spectrum Analyzer Assets From Lignex-1
STEVENAGE, U.K, and SEOUL, SOUTH KOREA, Jan. 6, 2011
Aeroflex Limited, a wholly owned subsidiary of Aeroflex Holding Corp. (NYSE:ARX), today announced it has signed an asset purchase agreement to acquire the spectrum analyzer assets from LIGNex1. The primary assets to be acquired under the transaction include benchtop spectrum analyzer product lines that Aeroflex has offered under its own brand. These products include the 2399C, 2394A, and 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 JS Kim, senior manager, Overseas Marketing and Business Development of LIGNex-1.
About Aeroflex
Aeroflex 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.
About LIGNex-1
LIGNex1 develops and produces a range of precision electronic systems including missile, underwater weapon systems, radar, electronic warfare, avionics, tactical communications 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.