caLogo
ELKHART, IN – EMS provider CTS Corp. announced the acquisition of privately held Orion Manufacturing Inc. for approximately $10 million in cash.
 
CTS expects the transaction to be accretive in the first year.
 
Under terms of the agreement, CTS may pay up to an additional $1.75 million in cash based on the achievement of certain financial targets in 2008 and 2009.
 
San Jose-based Orion provides contract electronics manufacturing services to the defense, aerospace, industrial and medical markets. It had 2007 sales of approximately $27 million. The move will push CTS's estimated annual EMS revenues over $400 million.
 
CTS will combine its operation in Santa Clara, CA, with Orion. 
Submit to FacebookSubmit to Google PlusSubmit to TwitterSubmit to LinkedInPrint Article
Don't have an account yet? Register Now!

Sign in to your account