California company to acquire DeWitt's Anaren for $775 million
Summary
DeWitt, N.Y. -- TTM Technologies Inc., of Costa Mesa, Calif., has agreed to buy Anaren Inc. for $775 million, a little more than twice what a private equity firm paid for the DeWitt-based radar components maker in 2014. TTM said the acquisition will combine its strength in printed circuit board manufacturing with Anarens product portfolio of unique and proprietary radio frequency components and subsystems for the aerospace, defense, networking and communications markets. "We expect that integrating our manufacturing strength with Anarens RF engineering talent will enable us to deliver superior value-added solutions to our customers in aerospace and defense and our broader commercial markets." He added that he believes the combination will result in "meaningful synergies created by complementary capabilities that will benefit the customers and employees of both companies." Atmosphere IoT offers a cloud platform that enables developers and original equipment manufacturers to build and deploy wireless-enabled connected product solutions.