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.