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Crane Finalizes Acquisition of Signal Technology
Signal Technology Corporation, an $87-million annual sales
maker of power supplies, radio and microwave frequency gear, and
related systems, has been acquired by Crane Aerospace & Electronics.
The acquisition is part of a strategic move by Crane to leverage
its product line and venture forth into defense electronics market,
according to Ray Boushie, Crane A & E president. It was accomplished
by means of an all-cash tender offer at $13.25 per share for the
remaining outstanding shares of Signal Technology by STC Merger
Company, a wholly owned subsidiary of Crane Company, A & E's
parent. Other firms owned by Crane A & E include ELDEC, Hydro-Aire,
Lear Romec and Resistoflex, along with Interpoint and General
Techonology.
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