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SOURCE CPI International Holding Corp.; CPI International, Inc.
Acquisition adds radomes for radar, electronic warfare and communications applications to CPI's broad portfolio of microwave & RF products
PALO ALTO, Calif., Oct. 1, 2013 /PRNewswire/ -- Earlier today, Communications & Power Industries LLC (CPI) acquired Radant Technologies, Inc. (RTI), which designs, manufactures and tests advanced composite radomes, reflector antennas and structures for defense aerospace and naval applications as well as commercial aerospace applications. A radome is a weatherproof structure that encloses and protects a microwave antenna without interfering with the antenna's ability to transmit or receive electromagnetic signals. CPI acquired the privately held RTI using cash on hand. Terms of the transaction were not disclosed.
RTI's patented technology and highly specialized products for radar, electronic warfare and communications applications complement and extend CPI's broad portfolio of microwave, radio frequency (RF), power and control solutions for these and other critical applications. RTI and CPI serve several of the same markets and customers, and the two companies' products are integral components of many of the same platforms. Similarly to CPI, RTI's products are customized for each system and application based on the operational frequency, RF-performance, structural and environmental requirements of the end system; RTI's products cover frequencies up to 95 gigahertz and sizes up to 15 feet in a single piece. RTI has a leading presence in airborne wideband communications systems for military and commercial applications.
CPI will operate RTI, which has approximately 180 employees, as an independent division of CPI based in Stow, Mass. Dr. Jean-Claude Sureau, one of the co-founders of RTI in 1984, has been serving as its president and chief executive officer and will continue to lead the organization. Sureau will report to Bob Fickett, president and chief operating officer of CPI.
"Through several of our divisions, CPI offers microwave power sources, high-power amplifiers and advanced antennas to support a broad array of radar, electronic warfare and communications applications. With the addition of RTI's industry-leading products, including its advanced composite radomes, CPI can now offer an even broader portfolio of RF products to customers who are already working with CPI to support their defense and communications systems," said Joe Caldarelli, chief executive officer of CPI.
"The complementary nature of our products, markets and customers makes CPI and RTI an excellent fit. In addition, CPI provides RTI with an established and respected worldwide sales and distribution network that will enable us to extend the RTI's customer base outside of North America," said Sureau.
About Communications & Power Industries LLC
Communications & Power Industries LLC, headquartered in Palo Alto, California, is a subsidiary of CPI International Holding Corp. and CPI International, Inc. and a leading provider of microwave, radio frequency, power and control solutions for critical defense, communications, medical, scientific and other applications. Communications & Power Industries LLC develops, manufactures and distributes products used to generate, amplify, transmit and receive high-power/high-frequency microwave and radio frequency signals and/or provide power and control for various applications. End-use applications of these systems include the transmission of radar signals for navigation and location; transmission of deception signals for electronic countermeasures; transmission and amplification of voice, data and video signals for broadcasting, Internet and other types of commercial and military communications; providing power and control for medical diagnostic imaging; and generating microwave energy for radiation therapy in the treatment of cancer and for various industrial and scientific applications.
Certain statements included above constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements provide our current expectations, beliefs or forecasts of future events. These statements are not guarantees of future performance. Forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual events or results to differ materially from the results projected, expected or implied by these forward-looking statements. These factors include, but are not limited to, competition in our end markets; our significant amount of debt; changes or reductions in the U.S. defense budget; currency fluctuations; goodwill impairment considerations; customer cancellations of sales contracts; U.S. Government contracts; export restrictions and other laws and regulations; international laws; changes in technology; the impact of unexpected costs; the impact of a general slowdown in the global economy; the impact of environmental laws and regulations; inability to obtain raw materials and components; and the impact of unexpected results of, or issues in connection with, dispositions and acquisitions (including that of Radant Technologies). These and other risks are described in more detail in our periodic filings with the Securities and Exchange Commission. All future written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We undertake no duty or obligation to (i) publicly revise any forward-looking statement to reflect circumstances or events occurring after the date hereof, (ii) to reflect the occurrence of unanticipated events or changes in our expectations or (iii) to publicly correct or update any forward-looking statement if CPI becomes aware that such statement is not likely to be achieved.
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