Published: September 01, 2010
Aeroflex Incorporated Completes the Acquisition of Advanced Control Components, Inc.
PLAINVIEW, N.Y. - (BUSINESS WIRE) - Aeroflex Incorporated ("Aeroflex" ) announced today the closing of its
previously announced acquisition of Advanced Control Components, Inc.
("ACC" ) from EMRISE Corporation ("EMRISE" ) (NYSE Arca: ERI) for $19.2
million in cash, as preliminarily adjusted for the closing date working
capital level as set forth in the purchase agreement. ACC will be
rebranded as Aeroflex Control Components and will remain in Eatontown,
New Jersey.
About Aeroflex
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.
Forward Looking Statements
All statements other than statements of historical fact included in
this press release regarding Aeroflex's business strategy and plans and
objectives of its management for future operations are forward-looking
statements. When used in this press release, words such as
"anticipate," "believe," "estimate," "expect," "intend" and similar
expressions, as they relate to Aeroflex or its management, identify
forward-looking statements. Such forward-looking statements are
based on the current beliefs of Aeroflex's management, as well as
assumptions made by and information currently available to its
management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of certain
factors, including but not limited to, adverse developments in the
global economy; dependence on growth in customers' businesses; the
ability to remain competitive in the markets Aeroflex serves; the
inability to continue to develop, manufacture and market innovative,
customized products and services that meet customer requirements for
performance and reliability; any failure of suppliers to provide raw
materials and/or properly functioning component parts; the termination
of key contracts, including technology license agreements, or loss of
key customers; the inability to protect intellectual property; the
failure to comply with regulations such as International Traffic in Arms
Regulations and any changes in regulations; the failure to realize
anticipated benefits from completed acquisitions, divestitures or
restructurings, or the possibility that such acquisitions, divestitures
or restructurings could adversely affect Aeroflex; the loss of key
employees; exposure to foreign currency exchange rate risks; and
terrorist acts or acts of war. Such statements reflect the
current views of management with respect to the future and are subject
to these and other risks, uncertainties and assumptions. Aeroflex does
not undertake any obligation to update such forward-looking statements.
Aeroflex Incorporated
Andrew Kaminsky, 516-752-6401
Vice
President - Corporate Development & Investor Relations
andrew.kaminsky@aeroflex.com
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