AUSTIN, TX – Virtex has acquired fellow EMS Precision Technology (PTI) for an undisclosed sum.
PTI is known for its rapid response manufacturing of mission-critical products in a high-mix, low-volume production environment.
"Precision Technology expands Virtex’s NPI and ultra-low-volume capability into the Texas aerospace and defense corridor, enhancing our relationships with key military customers,” said Brad Heath, CEO of Virtex. “PTI also expands our expertise in flex and rigid-flex board assembly within the Virtex platform, which will be beneficial for our existing customers. Adding PTI to the Virtex platform enhances the services and capabilities within the Southwest region and expands Virtex’s commitment to provide both dedicated NPI capabilities, as well as volume manufacturing, with each of our geographic markets."
"Being a part of Virtex allows us to pursue programs that require greater working capital and geographic reach, where we have been unable to compete before,” said Jeff Diora, CEO of PTI. “We are also excited about the additional services in engineering development, precision machining and space and satellite capability that will come from being part of the Virtex family. This is a great fit for both our employees and our customers."
Virtex previously acquired Circuit Technology and PPI-Time Zero.