PLAINVIEW, N.Y., Sept. 29 -- Aeroflex Inc., a maker of automated testing products and microelectronics for the aerospace, defense and broadband communications markets, announced today the sale of its Aeroflex Pearl River thin-film interconnect operations, previously known as MIC Technology, to electronic components manufacturer Vishay Intertechnology Inc., of Malvern, Pa., for $8.8 million.
"We are pleased to have completed this transaction with Vishay, a world leader in thin-film technology," said Michael Gorin, vice chairman and CFO of Aeroflex. "We believe that Vishay is in the best position to be able to continue to serve Aeroflex Pearl River's customers to the highest of standards. The transaction is expected to be essentially break-even to Aeroflex."
Ziv Shoshani, executive vice president, resistors and inductors, at Vishay, said, "Our strategic acquisition of Aeroflex Pearl River will further enhance our market position and will complement our existing capabilities in the area of single- and multiple-substrate thin film technology. These capabilities include our Vishay Electro-Films unit, which operates a brand-new, state-of-the-art manufacturing facility in Warwick, R.I. Vishay's acquisition of Aeroflex Pearl River will provide significant opportunities for synergies in R&D, manufacturing and marketing and sales."
For more information, visit: www.aeroflex.com