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© mikael damkier dreamstime.com Electronics Production | November 03, 2015

Benchmark to acquire Secure Technology

Benchmark Electronics has entered into a definitive agreement to acquire Secure Communication Systems, and its subsidiaries, for approximately USD 230 million in cash.
Secure, headquartered in Santa Ana, California, is a provider of customised high performance electronics, sub-systems, and component solutions for mission critical applications in highly regulated industrial, aerospace and defense markets.

"We are very excited about the strategic acquisition of Secure Technology and look forward to offering our customers an expanded portfolio of highly engineered solutions and enhancing value creation for our shareholders," said Gayla Delly, President and Chief Executive Officer of Benchmark. "Together with the Secure team, we will have new opportunities with customers in our industrial markets, which include the aerospace and defense sectors. In addition, Secure will be able to leverage Benchmark's manufacturing and supply chain expertise, operational systems and long history of quality performance to provide a broader array of solutions and services to its customers."

Allen Ronk, Secure Technology's Chief Executive Officer, noted "The strategic and cultural fit between our two companies will be a strong differentiator; the Secure team is enthusiastic about joining Benchmark. This transaction will allow us to accelerate Secure's strategic plans, offer additional services to our customers and provide increased opportunities to our employees."

The transaction is expected to close in the fourth quarter of 2015, subject to customary closing conditions, including regulatory approvals.

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