Acquisition Broadens Test Capabilities
Astronics Corporation announced on 1 July that it has acquired 100% of the equity of Freedom Communication Technologies, Inc., (FCT) for $22 million in cash.
Founded in 2015 and headquartered in Kilgore, TX, FCT develops and manufactures communication test equipment, such as communications analysers, for the land-based mobile radio market, providing innovative solutions for LTE high-speed wireless communications customers internationally. It also provides an extensive range of capabilities, including automated radio testing and alignment, coverage mapping, and interference analysis. Revenues in 2018 amounted to $11 million and the company is expected to contribute approximately $10 million in revenue in the second half of 2019.
“FCT is a leader in wireless communications testing, primarily for the civil land mobile radio market. Their market focus and technology complements those we already have, and together, we will offer a broader range of test solutions to an expanded market. The acquisition gives us a stronger market position in the radio test arena, a strong brand for our offerings and a larger addressable market,” commented Astronics Chairman, President and CEO, Peter J Gundermann.