- Heico Corp (NYSE:HEI) subsidiary Lucix has acquired Flight Microwave Corporation in an all-cash transaction. Financial terms were not disclosed.
- Flight Microwave, founded in 2004, is a designer and manufacturer of custom high-power filters and filter assemblies used in space and defense applications.
- Heico expects the acquisition to be accretive to its earnings in the year following the purchase.
- Lucix is part of Heico’s Electronic Technologies Group. Flight Microwave will operate as part of Lucix and eventually relocate to Lucix’s Camarillo, CA headquarters, engineering, and production center.
- Nearly all of Flight Microwave’s team will remain with the business post-closing.
- Heico held cash and equivalents of $124.82 million as of January 31, 2022.
- Price Action: HEI shares are trading lower by 1.15% at $144.07 on the last check Monday.
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The month of July was disappointing from the perspective of Food and Drug Administration decisions, as the agency handed down mostly negative verdicts.
