Electronics systems manufacturer API Technologies Corp. (ATNY: Quote) said Monday it has completed the acquisition of substantially all assets of RTI Electronics for $2.3 million in cash.
California-based RTI Electronics had revenues of approximately $4 million in 2011, from a diverse Fortune 500 customer base in the audio, defense, aerospace and industrial markets.
Bel Lazar, chief operating officer of API Technologies, stated, "Through this acquisition, API enhances its magnetics and film capacitor product lines, as well as broadens its sensor offering with QPL listed products."
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by RTT Staff Writer
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