| Test OEM Aeroflex Latest Francisco Purchase |
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| Wednesday, 07 March 2007 11:46 | |||
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PLAINVIEW, NY — A pair of private equity firms have agreed to purchase test equipment maker Aeroflex Inc. in a deal worth about $1 billion. General Atlantic and Francisco Partners said they would purchase the company, subject to standard stockholder approval and closing conditions. The deal contains a "go shop" provision under which Aeroflex may solicit other offers through April 18. However, Aeroflex would have to pay fees of up to $37 million to call off the deal. Aeroflex, a global provider of high-technology test, measurement, and microelectronic products, offers a strong platform, track record, and service record, said Dipanjan Deb, co-founder and managing partner at Francisco. For Francisco Partners, it would be the second major electronics manufacturing acquisition in a year. Last fall, the firm acquired Universal, Vitronics-Soltec and Hover-Davis.
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