ORLANDO, FL, June 1, 2011
API Technologies (OTCBB: ATNY), a provider of electronic systems, subsystems, RF, and secure communications products and services for defense, aerospace, and commercial applications, today announced the successful completion of its acquisition of Spectrum Control (NASDAQ:SPEC). API completed the acquisition through a merger of a wholly-owned subsidiary with and into Spectrum.
The closing of the acquisition of Spectrum allows API to gain significant expertise in RF, sensors and measurement, and power systems management technology and provides significant scale, manufacturing capacity, and product diversity.
Bel Lazar, president and CEO of API, commented, “Spectrum offers a wide range of RF product solutions, which complements our existing business in engineered systems and subsystems and secure communications. With this business combination, we will offer an even broader range of high-reliability solutions to meet technically demanding applications.”
Brian Kahn, chairman and CEO of API, stated, “We are very pleased to have completed the acquisition of Spectrum, which is one of the premier developers, designers, and manufacturers of high-performance, custom solutions for defense, aerospace, industrial, communications, and medical customers worldwide. I want to personally welcome the Spectrum team to API.”
About API Technologies
The company, through its subsidiaries, designs, develops, and manufactures systems, subsystems, RF, and secure communications solutions for defense, aerospace, and commercial applications. API Technologies’ international customers include many leading Fortune 500 companies. www.apitechnologies.com