A Kilgore company has been acquired by a New York-based aerospace electronics corporation.
According to July 1 press releases, Astronics Corp., of East Aurora, NY, acquired Freedom Communication Technologies for $22 million.
“We are thrilled to join the Astronics team. Their extensive technology base, deep presence in the defense and aerospace markets, and dynamic corporate culture make them a perfect fit for Freedom. We’re very proud of the leading market position we have built, and as part of Astronics we know we will make even greater strides in the years ahead,” said Ricardo Viloria, Freedom President and Chief Executive Officer, in an FCT press release.
Peter J. Gundermann, Chairman, President and Chief Executive Officer of Astronics Corp. said the deal would be a prosperous one.
“FCT is a leader in wireless communications testing, primarily for the civil land mobile radio market. Their market focus and technology complements those we already have, and together, we will offer a broader range of test solutions to an expanded market. The acquisition gives us a stronger market position in the radio test arena, a strong brand for our offerings and a larger addressable market. We are excited to expand our test capabilities and to bring FCT on board with our Test business,” Gundermann said in an Astronics Corp. press release.
Kilgore Economic Development Corporation Executive Director Amanda Nobles agreed the acquisition was a welcome one in Kilgore.
“It’s great to have that presence in our community,” Nobles said. “It’s great that it offers Freedom Communication Technologies the ability to expand its services and reach new markets.”
FCT is located at 2002 Synergy Blvd. and was founded in 2015. The company offers communications analyzers for testing and maintaining Land Mobile Radio (LMR) communications systems. FCT also provides an extensive range of capabilities, including automated radio testing and alignment, coverage mapping, and interference analysis, according to the Astronics press release.
The release also stated, in 2018, FCT had $11 million in revenue and is expected to contribute approximately $10 million in revenue in the second half of 2019.
Astronics Corp. was founded in 1968 and specializes in designing and manufacturing technologies and components for aircraft.
According to their website, “Astronics Corporation serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. We work side-by-side with customers, integrating our array of power, connectivity, lighting, structure, interior, and test technologies to solve complex challenges. For 50 years, we’ve delivered creative, customer-focused solutions with exceptional responsiveness. Today global airframe manufacturers, airlines, military branches, completion centers, and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics.”
Astronics Corp.’s NASDAQ stock ticker is ATRO.