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|Aeroflex Incorporated Acquires Radiation Assured Devices, Inc.|
PLAINVIEW, NEW YORK, June 30, 2010 - Aeroflex Incorporated ("Aeroflex" or the "Company") announced today the acquisition of Radiation Assured Devices, Inc. ("RAD").
"RAD has a proven track record of providing radiation hardened products and services in the satellite, high reliability and high performance markets. We are excited to jointly address the broad opportunities in the aerospace and defense communities with our new partners." said John Buyko, Aeroflex's Executive Vice President and President of the Microelectronics business segment. Mr. Buyko continued, "The RAD offerings will complement and strengthen our recognized leadership position as a supplier of radiation hardened semiconductors and microelectronics. We welcome the RAD employees to the Aeroflex team."
"Dr. Joe Benedetto, our Chief Technical Officer, and the rest of the RAD team are very excited to join Aeroflex and look forward to enhancing and broadening Aeroflex's RadHard product portfolio." said Chris Barton, Chief Executive Officer of RAD. Mr. Barton continued, "Aeroflex's extensive product leadership and outstanding world wide sales organization will allow us to better meet our customers' space requirements while broadening our service and product offerings."
Aeroflex Incorporated is a leading global provider of microelectronic components and test and measurement equipment used by companies in the space, avionics, defense, commercial wireless communications, medical and other markets.
About Radiation Assured Devices
Radiation Assured Devices, Inc. ("RAD") uses commercial and specialty technologies to provide state of the art radiation engineering and qualification services, as well as radiation hardened products for commercial and military spaceborne electronics with the highest levels of reliability and radiation assurance. RAD has extensive experience in production radiation effects testing in its 16,000 square foot facility located in Colorado Springs, CO.
Forward Looking Statements
All statements other than statements of historical fact included in this press release regarding Aeroflex's business strategy and plans and objectives of its management for future operations are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Aeroflex or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Aeroflex's management, as well as assumptions made by and information currently available to its management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, adverse developments in the global economy; dependence on growth in customers' businesses; the ability to remain competitive in the markets Aeroflex serves; the inability to continue to develop, manufacture and market innovative, customized products and services that meet customer requirements for performance and reliability; any failure of suppliers to provide raw materials and/or properly functioning component parts; the termination of key contracts, including technology license agreements, or loss of key customers; the inability to protect intellectual property; the failure to comply with regulations such as International Traffic in Arms Regulations and any changes in regulations; the failure to realize anticipated benefits from completed acquisitions, divestitures or restructurings, or the possibility that such acquisitions, divestitures or restructurings could adversely affect Aeroflex; the loss of key employees; exposure to foreign currency exchange rate risks; and terrorist acts or acts of war. Such statements reflect the current views of management with respect to the future and are subject to these and other risks, uncertainties and assumptions. Aeroflex does not undertake any obligation to update such forward-looking statements.
Vice President - Corporate Development & Investor Relations