Astronics Pays $53M For EADS Testing Division

Law360, Wilmington (January 21, 2014, 6:53 PM EST) -- Astronics Corp. will acquire EADS NV's test and services division for $53 million in cash to combine with the company's software-focused testing unit, it said Tuesday.

The purchase of the Irvine, Ca.-based segment, which includes a net working capital adjustment of about $10 million, is expected to close in February, Astronics CEO Peter J. Gundermann said in a conference call shortly after the announcement.

“We think the business will be coordinated pretty closely with our existing test business in Orlando and together the two will make...
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