Tektronix has completed the acquisition of the test business from Sypris Solutions for $39m.
Sypris Test & Measurement is a provider of calibration services, as well as testing and component sourcing services to markets which range from military/aerospace to the semiconductor industry.
According to Tektronix, the acquisition will assist its plans to offer services which support customers through the entire product life cycle.
"This is a key strategic initiative," said Tektronix.
The Sypris test business will bring with it a number of US locations which will offer on-site, mobile, or service offerings to Tektronix customers.
According to Jeffrey T. Gill, president and CEO of Sypris Solutions, the proceeds from the deal will be used to support growth opportunities for the company's aerospace and defence business, including those related to global key management, secure communications and identity authentication.
"The transaction will strengthen our balance sheet and focus our future investments in two highly scalable platforms represented by our industrial and aerospace and defense segments,” said Gill.