Fairview, PA, September 29, 2008 ----- Spectrum
Control, Inc. (NASDAQ: SPEC), a leading designer and manufacturer of custom
electronic products and systems, announced today that Spectrum Microwave, Inc.,
its wholly-owned subsidiary, has acquired substantially all of the assets and
assumed certain liabilities of SatCon Electronics, Inc. ("SatCon Electronics").
SatCon Electronics, based in Marlborough, Massachusetts, designs and
manufactures high performance microelectronic components. The total purchase
price of the acquisition was approximately $5.6 million.
Dick Southworth, Spectrum Control's President and
Chief Executive Officer, commented, "With this acquisition, we continue to
execute our strategic plan of product and technology expansion. SatCon
Electronics' products include sophisticated hybrid components and subsystems,
signal converters, and a full line of thin and thick film circuits. Even more
importantly, their capabilities and technologies include high frequency
millimeterwave products, which are a natural complement and extension to our
current Microwave Components and Systems Business. All of these complex products
are used in numerous military and commercial applications, including secure
communication systems and high frequency wireless devices." SatCon Electronics'
recent annual revenues have approximated $10.0 million.
About Spectrum Control
Spectrum Control, Inc. is a leader in the design,
development and manufacture of custom electronic products and systems for the
defense, aerospace, communications, and medical industries worldwide. For more
information about Spectrum Control and its products, please visit the Company's
website at www.spectrumcontrol.com.
8031 Avonia Road
Fairview, PA 16415
John P. Freeman, Senior Vice President
and Chief Financial
Spectrum Control, Inc.