SAN DIEGO-REMEC Inc. said it has agreed to sell its defense and space subsidiary to Chelton Microwave for about $260 million in cash.
The subsidiary, known as REMEC Defense & Space, employs more than 1,000 people and makes microwave products for defense and avionics applications in missile, radar, electronic warfare, communication, navigation and identification systems.
“We believe the combination with Chelton will provide our customers with a broader range of microwave and RF products, including a world-class antenna offering,” said Jack A. Giles, executive vice president of REMEC and president of REMEC Defense & Space. “The capability will provide REMEC Defense & Space an opportunity for further integrated solutions for the benefit of our customers.”
REMEC has been off loading its various businesses throughout the year. In May, it sold its broadband wireless businesses, and in October it sold its microwave and RF components business.
