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IFR SYSTEMS (Wichita, KS) has announced that it has been acquired by Aeroflex, Inc. (Plainview, NY), a leading designer, developer, and manufacturer of microelectronics and automated testing solutions for the broadband-communications market. IFR is a leading designer and manufacturer of advanced wireless test solutions for communications, avionics, as well as general test-and-measurement applications.Valued at approximately $60 million in cash, the transaction includes the retirement of IFR Systems' bank indebtedness.
As part of the agreement, IFR's banks have agreed to accept...