Spectrum Control - Press Release 9-29-2008
Spectrum Control Acquires SatCon Electronics, Inc.
Significantly Expands Spectrum's Microwave Product Capabilities
Fairview, PA, September 29, 2008 ----- Spectrum
Control, Inc. (NASDAQ: SPEC), a leading designer and manufacturer of
custom electronic products and systems, announced today that Spectrum
Microwave, Inc., its wholly-owned subsidiary, has acquired substantially
all of the assets and assumed certain liabilities of SatCon Electronics,
Inc. ("SatCon Electronics"). SatCon Electronics, based in Marlborough,
Massachusetts, designs and manufactures high performance microelectronic
components. The total purchase price of the acquisition was approximately
Dick Southworth, Spectrum Control's President and Chief
Executive Officer, commented, "With this acquisition, we continue to
execute our strategic plan of product and technology expansion. SatCon
Electronics' products include sophisticated hybrid components and subsystems,
signal converters, and a full line of thin and thick film circuits.
Even more importantly, their capabilities and technologies include high
frequency millimeterwave products, which are a natural complement and
extension to our current Microwave Components and Systems Business.
All of these complex products are used in numerous military and commercial
applications, including secure communication systems and high frequency
wireless devices." SatCon Electronics' recent annual revenues have approximated
About Spectrum Control
Inc. is a leader in the design, development and manufacture of custom
electronic products and systems for the defense, aerospace, communications,
and medical industries worldwide. For more information about Spectrum
Control and its products, please visit the Company's website at
Fairview, PA 16415
John P. Freeman, Senior Vice President
and Chief Financial Officer
Spectrum Control, Inc.