TTM Technologies completes purchase of DeWitt's Anaren for $775 million
Summary
DeWitt, N.Y. -- TTM Technologies Inc. said Wednesday it has completed its purchase DeWitt-based radar components maker Anaren Inc. for $775 million. TTM, of Costa Mesa, Calif., said the acquisition combines its strength in printed circuit board manufacturing with Anarens radio frequency design capability and a product portfolio of unique and proprietary components and subsystems for the aerospace and defense and networking/communication markets. "I expect that integrating our manufacturing strength with Anarens RF engineering talent will enable us to deliver superior value-added solutions to our customers in the aerospace and defense market as well as in the other markets we service," TTM CEO Tom Edman said in a statement. Founded in 1967 by former General Electric engineers Hugh Hair and Carl Gerst, Anaren employs more than 1,100 people at its headquarters at 6635 Kirkville Road and in Littleton, Colo.; Salem, N.H.; and Suzhou, China. The acquisition by TTM comes four years after Veritas Capital, a private equity firm, bought Anaren for $383 million.