IFR Systems Inc. Acquires Marconi Instruments

IFR Systems Inc. announced that it has acquired Marconi Instruments Ltd., Hertfordshire, England, and Marconi Instruments Inc., Dallas, from The General Electric Co. plc, London, for approximately $107 million in cash.

The acquisition will be funded by a combination of existing cash and borrowing under a bank credit facility through The First National Bank of Chicago.

Marconi Instruments, with trailing 12-month revenue in excess of $110 million, is a designer/manufacturer of test and measurement equipment. Marconi Instruments supplies its systems to the telecommunications and electronics industries worldwide.

IFR, through its RF and Fiber Optics Divisions, is a designer and manufacturer of electronic test instruments for wireless and fiber-optic communications, optical fibers, avionics and general test and measurement applications.