General Atlantic and Francisco Partners acquiring Aeroflex Inc.

General Atlantic and Francisco Partners acquiring Aeroflex Inc.

Private equity firms General Atlantic and Francisco Partners are now acquiring Aeroflex Inc. for around $1 billion.

Aeroflex specializes in making microelectronics for the telecommunications, aerospace and defense markets and they have confirmed this deal.

The company added in a statement that its stockholders would receive $13.50 a share in cash. This is a 22.6 percent premium over their prevailing stock prices at the market.

Len Borow, Aeroflex’s president and chief operating officer added in a statement on this deal: “Following an extensive review of the proposed transaction, our board unanimously concluded that the offer from General Atlantic and Francisco Partners is in the best interests of Aeroflex’s stockholders, employees and customers.”