| Smiths Acquires
U.S. Millimetre Wave and Antenna Company
September 22, 2005
Smiths Group announced today that it is expanding
its Interconnect business with the acquisition of Millitech, Inc., a
Massachusetts-based business which specialises in the design and
manufacturing of millimetre wave components, assemblies and fully
integrated antenna positioning systems for satellite communications,
radar, passive imaging, space and remote sensing applications. Smiths
acquired the business for $33.5 million, in cash.
Millitech extends Smiths' capabilities at the
upper end of the microwave frequency spectrum and into millimetre wave
frequencies. These higher frequencies provide greater communications
bandwidth, higher resolution imagery and higher security. Applications
for millimetre wave technology and antenna systems are growing with the
demand for greater connectivity, particularly with the expansion of
network centric operations. Millitech is well positioned to gain a
significant share of this growth.
Millitech's customers complement those of existing
Interconnect businesses, particularly in radar and satellite
communications as well as emerging applications in sensors, where it
has successful development projects in industrial plant and jet engine
monitoring.
Commenting on the acquisition, Keith Butler
Wheelhouse, chief executive of Smiths Group said: “Millitech provides
further expansion of the capabilities of our Interconnect business, an
area that has seen significant development and growth in the last three
years. It reflects our commitment to extending Smiths' technology in
profitable, high growth markets.”
John Langston, Group managing director of Smiths
Specialty Engineering said: “Our acquisition of Millitech complements
the capabilities of both the TRAK and TECOM businesses acquired last
year and the Component Division of Farran Technology purchased early
this year.”
The Interconnect part of Smiths Group's Specialty Engineering division
is a global electronic components and subsystems manufacturer providing
niche signal, power and microwave capabilities and specialist
engineering solutions for customers in the electronics, wireless
telecommunications, aerospace, defence, space and medical markets.
Smiths Group designs and manufactures safety critical systems and
products and has market-leading positions in aerospace systems,
detection systems, medical devices, mechanical seals and interconnect
products.
Visit www.smiths-group.com/
Contacts:
Media: Chris Fox +44 (0)20 8457
8403
Investors: Russell Plumley +44 (0) 20 8457 8203 |
