Giga-tronics has announced the sale of its Power Meter, Amplifiers, Sensors, and legacy Signal Generator product lines to Spanawave Corporation. The product lines will transfer to Spanawave sequentially in phases beginning with certain sensor and amplifier products (effective immediately), with the final product line transfer (legacy Signal Generators) estimated to be completed in July 2016. Payments totaling $1.5 million will be made by Spanawave to Giga-tronics over the phased transition period with one-half of the payments ($750,000) expected to be received between June and July 2016. In addition, Spanawave will be purchasing existing inventory for these products in phases. Giga-tronics will continue to manufacture the related products until the respective product line transfer is complete.
The sale of these product lines will allow Giga-tronics to focus on their higher growth opportunities, like the new Real Time Threat Emulation System which they announced in December and their Microsource business which designs and manufactures high performance YIG tuned filter products.
The acquisition of these Giga-tronics product lines is a major step forward for Spanawave. With this new product portfolio and add technological capability they plan to create new advanced microwave test and measurement platforms. Spanawave will now work with Giga-tronics customers to provide them products and services for their microwave test and measurement needs.
The acquisition will be carried out in phases, and during this period, the Giga-tronics products will be know as Spanawave/Giga-tronics. The technical literature may mention either of the brands until the acquisition is completed.
