By the end of the year Telefonix Inc. and related company Product Development Technologies LLC could have a new parent company. Astronics Corp. is planning a move — worth $104 million — to expand its in-flight connectivity offerings.
Astronics said it has entered into a “definitive agreement to acquire substantially all of the assets” of the two companies. The funds would come from Astronics’ senior revolving credit facility. The acquisition is expected to close by year’s end and is subject to a review under the Hart-Scott-Rondino Antitrust Improvements Act.
With two locations in Illinois, Telefonix PDT designs and manufactures in-flight entertainment connectivity equipment. It also provides design consultancy services for the aerospace industry. Products include wireless access points, file servers, content loaders, passenger control units, cord reels and more.
“We believe Telefonix is an excellent strategic fit with Astronics. Telefonix is a leader in the critical equipment it designs and manufactures and has successfully established itself with an impressive set of aerospace customers,” said Peter J. Gundermann, president and CEO of Astronics. “We believe that Astronics will be able to both strengthen and benefit from the technology and relationships that Telefonix brings to our company.”
According to Astronics, Telefonix has forecasted 2017 annual sales between $60 million and $70 million.