DeWITT, N.Y. — Publicly traded TTM Technologies Inc. — of Costa Mesa, California — has purchased Anaren Inc., the company announced.
Anaren — headquartered in DeWitt — designs and manufactures radio-frequency devices used in radar technology, aerospace, and defense, as well as in infrastructure for the next generation of cellular systems.
Anaren was purchased for $775 million in cash consideration, subject to certain customary adjustments at closing, TTM Technologies (NASDAQ: TTMI) said in a release.
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“I enthusiastically welcome the employees of Anaren to TTM and look forward to the combination of our respective talents,” Tom Edman, CEO of TTM, said. “I expect that integrating our manufacturing strength with Anaren’s RF engineering talent will enable us to deliver superior value-added solutions to our customers in the aerospace and defense market as well as in the other markets we serve.”
Edman added that he believed there were “meaningful revenue synergy opportunities created by complementary capabilities that will benefit the customers and employees of both companies.”
Anaren has 600 employees in Central New York, according to BJNN Research.
Contact McChesney at cmcchesney@cnybj.com
