Wednesday, May 28, 2008
EMRISE Buys RF Component Firm
Rancho Cucamonga-based EMRISE Corporation said Wednesday that it has agreed to acquire Advanced Control Components, a New Jersey-based supplier of high performance radio frequency (RF) and microwave devices for the military, aerospace, and other markets. The deal is worth up to $18M in cash. EMRISE is a manufacturer of electronic devices and communications equipment for the aerospace, defense, industrial, and communications market. EMRISE said that it expects revenues from ACC to be worth $17 to $18M in the first 12 months following the acquisition; ACC had revenues of $15.4M for its fiscal year ended June 30th. The deal will be financed by the PEM Group as part of an earlier debt financing. EMRISE was advised by Susquehanna Financial Group LLP in the deal.