© andreypopov dreamstime.com General | October 07, 2019
Astronics acquires Diagnosys Test Systems
Astronics, a provider of advanced technologies for the global aerospace, defense, and other mission critical industries, has acquired 100% of three primary operating subsidiaries of Diagnosys Test Systems Limited (Diagnosys).
Diagnosys is a developer and manufacturer of comprehensive automated test equipment (ATE) providing test, support, and repair of high value electronics, electro-mechanical, pneumatic and printed circuit boards focused on the global mass transit and defense markets. The USD 7 million acquisition of Diagnosys Holdings Inc., Diagnosys Ferndown Limited and Diagnosys Electronics (I) Private Limited includes an earn-out of up to an additional USD 13 million over the next three years based on achievement of new order levels of over USD 70 million during the same period. Astronics President and CEO Peter J. Gundermann said, “Diagnosys is a leader in test solutions with a heavy focus on mass transit and defense markets, which is very much aligned with the strategy of our Test segment. The acquisition gives us a strong position in the growing mass transit test market as well as providing component-level solutions to our aerospace and defense test business. We expect that the company’s advanced technologies and customer base will provide us opportunities for continued growth into mission-critical test markets by enabling us to offer a broader range of solutions to our customers. We are pleased to welcome the employees of Diagnosys to the Astronics family.” Founded in 2008, Diagnosys has operations in Westford, Massachusetts, Ferndown, England, and an engineering center of excellence in Bangalore, India. Founded in 2008, the company offers complete ATE and bench test equipment solutions for support and maintenance of high-value electronic circuit boards and modules in mission-critical reliability sectors. Diagnosys also provides an extensive range of service capabilities, including the overhaul and repair of electronics systems. Sales for the trailing twelve months ended September 30, 2019 were approximately USD 9.0 million.