Aeroflex to be acquired by General Atlantic and Francisco Partners
Aeroflex Incorporated has announced that it has entered into an agreement to be acquired by General Atlantic and Francisco Partners in a transaction valued at approximately $1.0 billion.
"Following an extensive review of the proposed transaction, our Board unanimously concluded that the offer from General Atlantic and Francisco Partners is in the best interests of Aeroflex," commented Len Borow, Aeroflex's President and Chief Operating Officer. "We believe that General Atlantic and Francisco Partners will enhance the successful implementation of our strategic plans and continued support of our customers' objectives,"
Mr. Borow added."We are pleased to be partnering with Aeroflex," said Philip Trahanas, Managing Director at General Atlantic. "We look forward to working closely with the Aeroflex management team to build on the Company's position and successful track record of delivering on the evolving demands of its diverse customer base."
"We are excited about the opportunity to work with Aeroflex," commented Dipanjan Deb, Co-founder and Managing Partner of Francisco Partners."