Behrman Capital, a private equity investment firm based in New York and San Francisco, has announced that its portfolio company Data Device Corporation, a leader in high-reliability connectivity, power, and control solutions for aerospace, defense, and industrial applications, has entered into an agreement to acquire the Microelectronics Business of Maxwell Technologies, Inc., for a total consideration of $21 million.
Maxwell's Microelectronics Business is a leading developer and manufacturer of innovative, cost-effective, space-qualified microelectronics solutions for satellites and spacecraft. It produces radiation-hardened single board computers and components such as high-density memory and power modules. Many of these products incorporate proprietary packaging and shielding technology and novel architectures that enable them to withstand the effects of environmental radiation and to perform reliably in space.
Grant G. Behrman, Managing Partner of Behrman Capital, said, "We are very pleased that DDC will acquire Maxwell's Microelectronics Business, which is highly complementary to DDC's strong existing space solutions capabilities. DDC has made exceptional progress in recent years through strategic acquisitions and other initiatives. We look forward to working with Vince Buffa and his management team in the coming years to continue to build on DDC's leading position in its markets."
Vincent Buffa, President and CEO of DDC, stated, "The acquisition of Maxwell Technologies' Microelectronics Business greatly expands DDC's solution capabilities for the space industry and other markets requiring radiation hardened solutions. We are all very excited about the addition of the Microelectronics Business to the DDC family and the resulting value that our combined best-in-class connectivity, power and motion control solutions will provide the space industry."