Astronics completes acquisition of PGA Electronic

Astronics Corporation, a leading provider of advanced technologies for the global aerospace and defense industries, confirmed that it completed the acquisition of PGA Electronic (“PGA”) on December 5, 2013 for approximately $31.2m. Approximately $17.5m of the purchase price was paid in cash and the balance was paid by the issuance of 264,168 shares of Astronics common stock with a market value at the time of closing of $13.7m. Astronics had previously announced that it entered into a definitive agreement to acquire PGA Electronic on November 4, 2013.