Smiths Group PLC
22 September 2005
Smiths Acquires U.S. Millimetre Wave and Antenna Company
Smiths Group announced today that it is expanding its Interconnect business with
the acquisition of Millitech, Inc.. A Massachusetts-based business, Millitech
specialises in the design and manufacturing of millimetre wave components,
assemblies and integrated antenna systems for satellite communications, radar,
passive imaging, space and remote sensing applications. Smiths acquired the
business for $33.5 million, in cash.
Millitech extends Smiths' capabilities at the upper end of the microwave
frequency spectrum and into millimetre wave frequencies. These higher
frequencies provide greater communications bandwidth, higher resolution imagery
and higher security. Applications for millimetre wave technology and antenna
systems are growing with the demand for greater connectivity, particularly with
the expansion of network centric operations. Millitech is well positioned to
gain a significant share of this growth.
Millitech's customers complement those of existing Interconnect businesses,
particularly in radar and satellite communications as well as emerging
applications in millimetre wave sensors, where it has successful development
projects in industrial plant and jet engine monitoring.
Commenting on the acquisition, Keith Butler Wheelhouse, chief executive of
Smiths Group said: 'Millitech provides further expansion of the capabilities of
our Interconnect business, an area that has seen significant development and
growth in the last three years. It reflects our commitment to extending Smiths'
technology in profitable, high growth markets.'
John Langston, Group managing director of Smiths Specialty Engineering said: '
Our acquisition of Millitech complements the capabilities of both the TRAK and
TECOM businesses acquired last year. '
The Interconnect part of Smiths Group's Specialty Engineering division is a
global electronic components and subsystems manufacturer providing niche signal,
power and microwave capabilities and specialist engineering solutions for
customers in the electronics, wireless telecommunications, aerospace, defence,
space and medical markets.
Smiths Group designs and manufactures safety critical systems and products and
has market-leading positions in aerospace systems, detection systems, medical
devices, mechanical seals and interconnect products.
Visit www.smiths-group.com
- Ends -
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Investors Russell Plumley +44 (0) 20 8457 8203
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