Aeroflex Incorporated Announces Acquisition of RDL, Inc.Business Editors PLAINVIEW, N.Y.--(BUSINESS WIRE)--Oct. 24, 2000 Aeroflex Incorporated (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Symbol: ARXX), a leading designer, developer and manufacturer of microelectronics and automated testing (testing) automated testing - Software testing assisted with software tools that require no operator input, analysis, or evaluation. solutions for the fiber optic and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. markets, announced today that it has acquired RDL RDL - Requirements and Development Language. ["RDL: A Language for Software Development", H.C. Heacox, SIGPLAN Notices 14(9):71-79 (Sep 1979)]. , Inc., a Pennsylvania based designer, developer and manufacturer of advanced commercial communications test and measurement products and defense subsystems, for $14 million in cash. RDL will be operated as a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Aeroflex and had sales for its last fiscal year of approximately $15 million. "This acquisition both broadens our commercial communications product offerings and adds a highly skilled RF and Microwave R&D team," said Leonard Borow, Executive Vice President of Aeroflex. "RDL's technology and manufacturing capability will allow Aeroflex to grow its broadband communications test and measurement business more rapidly by immediately extending RDL's existing product line to our customers, and by leveraging its research and development capabilities to develop additional higher margin products." The acquisition of RDL is the third such bolt-on acquisition announced by the company since the beginning of its fiscal year 2001 in July. Aeroflex recently acquired Altair Aerospace Corporation and AmpliComm, Inc. These acquisitions are part of the company's broader strategy of developing, manufacturing and delivering higher-margin products for its growing roster of significant broadband clients. The acquisition will be accounted for as a purchase and an appraisal of RDL's assets is in process to allocate the purchase price and determine the amount of any in process research and development write-off. About Aeroflex Aeroflex Incorporated, through its subsidiaries, designs, develops and manufactures state-of-the-art microelectronic module, integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for , interconnect (1) To attach one device to another. (2) A physical port (plug, socket) or wireless port (transmitter, receiver) used to attach one device to another. and testing solutions used in broadband communication applications. The Company's common stock trades on the NASDAQ National Market System under the symbol ARXX and is included in the S&P Small Cap 600 index. Additional information concerning Aeroflex Incorporated can be found on the company's website: www.aeroflex.com. (All statements other than statements of historical fact included in this press release regarding Aeroflex's financial position, business strategy and plans and objectives of its management for future operations are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Aeroflex or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of Aeroflex's management, as well as assumptions made by and information currently available to its management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, competitive factors and pricing pressures, changes in legal and regulatory requirements Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. , technological change or difficulties, product development risks, commercialization difficulties and general economic conditions. Such statements reflect our current views with respect to the future and are subject to these and other risks, uncertainties and assumptions relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Aeroflex's financial condition, results of operations, growth strategy and liquidity.) |
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