Interconnecting business

The UK-based Smiths Group has acquired TRAK Communications, a US developer of microwave sub-systems, antennas and components, for $111.5 million from Veritas of New York.

The UK-based Smiths Group has acquired TRAK Communications, a US developer of microwave sub-systems, antennas and components, for $111.5 million (£63m) from Veritas of New York.

TRAK will form part of Smiths Interconnect, a supplier of application specific electronics for military and commercial markets.

This acquisition is the fifth Smiths has announced since presenting its interim results on 10 March, bringing total expenditure to $330.5 million (£187m).

TRAK, with 425 employees and 2003 turnover of $71 million (£40m), operates from facilities in Tampa in Florida, Thousand Oaks, California and Dundee, Scotland.

The cash deal is expected to close at the end of May, subject to regulatory approvals.

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