HAUPPAUGE, N.Y., 30 Jan. 2007. Two Long Island, N.Y.-based technology companies are combining their talents to create a force in electronic, electro-optic, and nanotechnology components for military, aerospace, and communications applications.
API Nanotronics Corp. in Hauppauge, N.Y., closed is acquisition of 1553 databus designer National Hybrid Inc. in Ronkonkoma, N.Y., Jan. 29. API bought 100 percent of National Hybrid shares for $9.75 million in cash.
National Hybrid becomes a wholly owned subsidiary of API. National Hybrid provides 1553 databus products, solid-state power controllers, high-density multichip modules, electro-optic couplers, and custom hybrid microcircuits to companies such as Raytheon, Lockheed Martin, Northrop Grumman, and the U.S. Department Of Defense.
"This acquisition significantly strengthens API's product offerings and enhances our research and manufacturing capabilities as we embark on our next phase of growth in Nanotechnology," says Phillip DeZwirek, chairman and chief executive officer of API.
National Hybrid is completing an advanced MEMS production and micro-fabrication facility for nanotechnology research and development. When finished, the facility will be one of the most modern MEMS micro-fabrication plants in North America, API officials say.
"The combination with National Hybrid will allow API Nanotronics to pursue its goal of diversifying into products based on MEMS and nanotechnology," DeZwirek says. "This acquisition makes API Nanotronics a one-stop shop for the most sophisticated design requirements of the leading defense contractors."
API Nanotronics formed last November with the merger of Rubincon Ventures Inc. in Bellingham, Wash., and API Electronics Group Corp. in Hauppauge, N.Y. API Nanotronics has its business headquarters in Toronto.
API provides off-the-shelf and custom designed electronic components and systems for the defense and communications industries. Customers include Honeywell Inc., General Dynamics, and Lockheed Martin.
For more information contact API Nanotronics online at www.apinanotronics.com, or National Hybrid at www.nationalhybrid.com.