DOJ Issues Asset Divestiture Requirement for CPI-General Dynamics Satcom Tech Deal

The Department of Justice is requiring Communications & Power Industries to sell its ASC Signal Division subsidiary and related assets in order for CPI to advance its acquisition of General Dynamics’ (NYSE: GD) antenna systems business.

“Today’s settlement will ensure that the Department of Defense and other purchasers of large geostationary satellite antennas continue to benefit from vigorous competition in the design, manufacture, and sale of these products,” Makan Delrahim, assistant attorney general at DOJ’s antitrust division, said in a statement published Thursday.

CPI agreed to buy SATCOM Technologies from General Dynamics in August 2019. SATCOM Technologies designs and produces satellite communications antenna systems used in defense, scientific and commercial applications as well as offers installation and engineering support and related radio frequency platforms and electronics.

Palo Alto, Calif.-based CPI is a portfolio company of Odyssey Investment Partners and manufactures electronic components and related subsystems used in the generation, reception and transmission of microwave signals for military and commercial applications.

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