Mergers and Acquistions News
Categories: Telecoms
November 26th 2010, 17:12PM
An affiliate of Veritas Capital, a New York-based middle-market private equity house, will acquire CPI International, a US telecommunications provider, for approximately $525 million (£335 million).
The purchase price reflects a premium of approximately 35 per cent over the closing price of CPI common stock on November 24th, 2010, CPI said.
CPI provides microwave, radio frequency, power and control solutions for the defence, communications, medical and science sectors.
Veritas typically focuses on investment in defence, national security and aerospace projects.
"Veritas Capital is pleased to be associated with the management and employees of CPI. The company has a long history of providing technology and product excellence to the defence, communications, medical and scientific markets," Robert B. McKeon, founder, chairman and managing partner of the equity firm, said.
According to Reuters, Comtech, a voice and data telecoms firm, offered around $372 million to acquire CPI in September. If that deal had gone ahead, it would have been its largest purchase ever, the news provider said.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)