SMTEK Agrees to Acquire Scientific Instrument Firm
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SMTEK International in Thousand Oaks has agreed to acquire Prosser Scientific Instruments Ltd., based in England.
The acquisition, to be paid for in cash, is expected to close by Jan. 31. Other transaction terms were not disclosed.
Prosser was founded nearly 30 years ago as an instrument manufacturer. In the 1980s, it started up a contract design and electronics manufacturing services operation, which in recent years has grown to account for a substantial majority of its business.
It has headquarters in Ipswich, England, and maintains a sales office in Cambridge.
“The acquisition of Prosser represents an important strategic move because it brings our services closer to the European customer base,” said Gregory L. Horton, SMTEK chairman and chief executive officer.
SMTEK International makes printed circuit boards and is an electronic manufacturing services provider for the computer, telecommunications, instrumentation, medical, industrial and aerospace industries.
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