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Spectrum Control Completes Acquisition of Sage Laboratories, Inc.

Mon, 06/21/2010 - 10:48am
FAIRVIEW, Pa., /PRNewswire-FirstCall/ -- Spectrum Control, Inc. announced recently 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."

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