API Technologies Corp. has successfully completed its acquisition of Spectrum Control, Inc. through a merger of a wholly owned subsidiary with and into Spectrum. API provides electronic systems, subsystems, RF and secure communications products and services for defense, aerospace and commercial applications.
Spectrum’s outstanding shares were converted into the right to receive $20.00 per share in cash, without interest and less any required withholding taxes. They will no longer be traded on the NASDAQ Global Select Market.
“We are very pleased to have completed the acquisition of Spectrum, which is one of the premier developers, designers, and manufacturers of high-performance, custom solutions for defense, aerospace, industrial, communications and medical customers worldwide, ” said Brian Kahn, chairman and CEO of API. “I want to personally welcome the Spectrum team to API, where together we will continue our strategy of building the premier products, solutions and services to meet the diverse needs of our global customer base.”