ASTRONICS CORPORATION (NASDAQ:ATRO) Files An 8-K Other Events

On October 4, 2019, Astronics Corporation (the “Company”), acquired the primary operating subsidiaries of Diagnosys Test Systems Limited (“Diagnosys”), to the terms of an Agreement for the Sale and Purchase of the Diagnosys Business, dated October 4, 2019, by and among the Company, Diagnosys and the key shareholders of Diagnosys named therein (the “Agreement”). Under the terms of the Agreement, the Company has acquired 50% of the equity of the three primary operating subsidiaries of Diagnosys, which are Diagnosys Holdings, Inc., Diagnosys Ferndown Limited and Diagnosys Electronics (I) Private Limited for $7.0 million in cash. The terms of the acquisition allow for a potential earn-out of up to an additional $13 million over the next three years.

On October 4, 2019, the Company issued a press release announcing entry into the Agreement. A copy of the press release is included as Exhibit 99.1 to this Current Report and is incorporated herein by reference.

ASTRONICS CORP Exhibit
EX-99.1 2 a10042019diagnacqex991.htm EX-99.1 DocumentPRESS RELEASE         Exhibit 99.1For Immediate Release  Astronics Acquires Mass Transit Test Solution Provider Diagnosys Test Systems Provides engineering scale,…
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About ASTRONICS CORPORATION (NASDAQ:ATRO)

Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems. The Company operates through two segments: Aerospace and Test Systems. The Company’s Aerospace segment designs and manufactures products for the global aerospace industry. Its product lines include lighting and safety systems, electrical power generation, distribution and motions systems, aircraft structures, avionics products, systems certification and other products. The Company’s Test Systems segment designs, develops, manufactures and maintains automated test systems that support the semiconductor, aerospace, communications and weapons test systems, as well as training and simulation devices for both commercial and military applications.