Benchmark Electronics has entered into a definitive agreement to buy Secure Communications Systems and its subsidiaries for approximately $230 million in cash. The Secure Communications portfolio includes customized high-performance electronics, subsystems and components for industrial, aerospace and defense mission-critical applications.
Gayla Delly, president and CEO of Benchmark cites new opportunities and services for customers in the company’s industrial markets as a driver for the purchase. The company expects the purchase to increase operating margins and diversify revenues. The transaction will be funded with Benchmark's bank credit facility and is expected to close in the fourth quarter of 2015, subject to approvals.
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