Spectrum Control Incorporated ? a Fairview-based company - sold to an Orlando-based company.
Spectrum designs and manufactures custom solutions for defense, aerospace, industrial, and medical industries.
The company will now serve as a wholly owned subsidiary of API Technologies Incorporated.
API acquired 100% of the issued and outstanding equity of Spectrum for $20 per share.
The total purchase price was $270 million.
CEO Dick Southworth says this merger means good news for shareholders now, and continued growth for the company world-wide and in Erie County.