22nd Sep 2005 07:33
Smiths Group PLC22 September 2005 Smiths Acquires U.S. Millimetre Wave and Antenna Company Smiths Group announced today that it is expanding its Interconnect business withthe acquisition of Millitech, Inc.. A Massachusetts-based business, Millitechspecialises in the design and manufacturing of millimetre wave components,assemblies and integrated antenna systems for satellite communications, radar,passive imaging, space and remote sensing applications. Smiths acquired thebusiness for $33.5 million, in cash. Millitech extends Smiths' capabilities at the upper end of the microwavefrequency spectrum and into millimetre wave frequencies. These higherfrequencies provide greater communications bandwidth, higher resolution imageryand higher security. Applications for millimetre wave technology and antennasystems are growing with the demand for greater connectivity, particularly withthe expansion of network centric operations. Millitech is well positioned togain a significant share of this growth. Millitech's customers complement those of existing Interconnect businesses,particularly in radar and satellite communications as well as emergingapplications in millimetre wave sensors, where it has successful developmentprojects in industrial plant and jet engine monitoring. Commenting on the acquisition, Keith Butler Wheelhouse, chief executive ofSmiths Group said: "Millitech provides further expansion of the capabilities ofour Interconnect business, an area that has seen significant development andgrowth 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 andTECOM businesses acquired last year. " The Interconnect part of Smiths Group's Specialty Engineering division is aglobal electronic components and subsystems manufacturer providing niche signal,power and microwave capabilities and specialist engineering solutions forcustomers in the electronics, wireless telecommunications, aerospace, defence,space and medical markets. Smiths Group designs and manufactures safety critical systems and products andhas market-leading positions in aerospace systems, detection systems, medicaldevices, mechanical seals and interconnect products. Visit www.smiths-group.com - Ends - Contacts: Media Chris Fox +44 (0)20 8457 8403Investors Russell Plumley +44 (0) 20 8457 8203 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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