Ballard Technology Acquired by Astronics Corporation
EVERETT, WA (December 1, 2011) - Ballard Technology, Inc., a privately-held company, today announced that it has been acquired by Astronics Corporation (NASDAQ: ATRO), a leader in advanced, high-performance lighting, electrical power and automated test systems for the global aerospace and defense industries.
"Astronics is an excellent fit with Ballard's culture and long term business strategy," said Richard Steegstra, founder of Ballard Technology. "Being a part of the Astronics family presents complementary business opportunities and a potential for continued growth that will benefit Ballard's customers, suppliers, and employees."
Ballard Technology was founded in 1986 and produces avionics interface products for military and commercial test, simulation, and embedded applications. Their products cover all industry-standard protocols including MIL-STD-1553, ARINC 429/708/717/664, Ethernet, CSDB, serial, discrete and others. Ballard is committed to total customer satisfaction, product ease-of-use, and exceptional customer service.
Peter J. Gundermann, President and CEO of Astronics, commented, "The acquisition of Ballard advances our strategy to develop and maintain positions of technical leadership while diversifying the products and technologies we currently offer to our targeted aerospace and defense customers. Like us, Ballard provides highly-engineered products and has built a brand based on quality, service and innovative designs. We believe that the business has solid growth potential and our capabilities will complement their efforts."
More information about Ballard Technology can be found at www.ballardtech.com.
About Astronics Corporation
Astronics Corporation is a leader in advanced, high-performance lighting, electrical power and automated test systems for the global aerospace and defense industries. Astronics' strategy is to develop and maintain positions of technical leadership in its chosen aerospace and defense markets, to leverage those positions to grow the amount of content and volume of product it sells to those markets and to selectively acquire businesses with similar technical capabilities that could benefit from our leadership position and strategic direction. Astronics Corporation, and its whollyowned subsidiaries, Astronics Advanced Electronic Systems Corp., DME Corporation and Luminescent Systems Inc., have a reputation for high-quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. The Company routinely posts news and other important information on its Web site at www.Astronics.com.
For more information on Astronics and its products, visit its Web site at www.Astronics.com.
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