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Clearwater aircraft component maker Aerosonic to be sold for $39 million

Aerosonic Corp. makes display components for airplane instrument panels like this intuitive modular display.

DOUGLAS R. CLIFFORD
Times  (2010)

Aerosonic Corp. makes display components for airplane instrument panels like this intuitive modular display. DOUGLAS R. CLIFFORD Times (2010)

Clearwater-based Aerosonic Corp., a long-established and publicly traded maker of display components for airplane instrument panels, said it will be acquired by TransDigm Group in Cleveland, another aircraft components manufacturer.

The deal calls for TransDigm to acquire all of the outstanding shares of Aerosonic for $7.75 per share in cash in a transaction valued at $39 million.

"This merger will allow Aerosonic to leverage its proprietary air data and display technologies via TransDigm's broad market presence and financial strength, enhancing the growth prospects of the TransDigm team," Aerosonic CEO Doug Hillman said in a statement.

Aerosonic's primary customers are the U.S. government and Boeing. TransDigm's proposed purchase of the company is expected to commence in May. Aerosonic will then operate as a subsidiary of TransDigm, whose stock Monday morning traded just under $144 a share.

Aerosonic shares peaked at $27.50 in 2002. But the stock lately has been treading water in the lower single digits. Last year, the company, founded by Herb Frank in 1959, employed about 200 workers full time.

Clearwater aircraft component maker Aerosonic to be sold for $39 million 04/22/13 [Last modified: Monday, April 22, 2013 11:18pm]
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