© mikael damkier Business | January 09, 2018

AVX signs agreement to acquire Ethertronics

AVX Corporation has signed a definitive agreement to acquire Ethertronics Inc., a privately held manufacturer of passive and active antenna systems.
Ethertronics focuses on advanced antenna system technology and manufactures antenna products for wireless applications such as mobile phones, Wi-Fi, defense, aerospace, medical, and Internet of Things.

“The addition of Ethertronics is an exciting opportunity for AVX as we expand our extensive electronic product offering into a new arena. Ethertronics is a premier brand that we are proud to add to the AVX family. The combination of AVX and Ethertronics offers exciting growth potential for the years ahead,” John Sarvis, President and Chief Executive Officer of AVX Corporation, says in a press release.

According to the agreement, AVX will acquire Ethertronics for a consideration of USD 142.0 million in cash and assumption of USD 8.0 million of net debt. The transaction is subject to regulatory approvals.

Ethertronics designs, manufactures and markets passive and active IMD antenna systems. IMD antennas are highly efficient antennas that are insensitive to changes in ground planes or local interference. Ethertronics operates facilities in six locations located in China, South Korea, Vietnam, France, Taiwan, and the USA, comprising R&D, manufacturing and sales office locations.

In the financial year ended December 31, 2017, Ethertronics generated approximately USD 90 million of revenue. The company employs approximately 700 people, 120 of whom are in product development.
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December 13 2018 1:08 pm V11.10.14-1