Astronics Corporation, a leading provider of advanced technologies for the global aerospace, defense, and other mission-critical industries, has acquired the primary operating subsidiaries from mass transit and defense market test solution provider, Diagnosys Test Systems Limited (Diagnosys). Diagnosys is a developer and manufacturer of comprehensive automated test equipment (ATE) providing test, support, and repair of high-value electronics, electro-mechanical, pneumatic and printed circuit boards focused on the global mass transit and defense markets.
Astronics has acquired 100% of the equity of the three primary operating subsidiaries of Diagnosys, which are Diagnosys Holdings, Inc., Diagnosys Ferndown Limited and Diagnosys Electronics (I) Private Limited, for US$7 million in cash. The terms of the acquisition allow for a potential earn-out of up to an additional US$13 million over the next three years based on achievement of new order levels of over US$70 million during that period.
