FAIRVIEW, Pa., June 18 /PRNewswire-FirstCall/ -- 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 Sage Laboratories, Inc. ("Sage Labs"), a wholly-owned subsidiary of Ceralta Technologies, Inc. The total purchase price of the acquisition was approximately $6.5 million. Current annualized revenues of Sage Labs' products are approximately $12 million.
Dick Southworth, Spectrum Control's President and Chief Executive Officer, commented, "We are very pleased to complete this transaction, which continues our strategic expansion of microwave capabilities and technologies. This acquisition, our second in the microwave area in the last seven months, and the eighth microwave business acquisition by our current Management Team, further establishes our Company as a leader in custom, high-performance, microwave products and solutions."
About Spectrum Control
Spectrum Control, Inc. is a leader in the design, development and manufacture of high-performance custom electronic solutions 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 www.spectrumcontrol.com.
SOURCE Spectrum Control, Inc.