Communications & Power Industries (CPI) has successfully completed the purchase of TMD Holdings Limited and its subsidiaries, including TMD Technologies Limited and TMD Technologies, LLC (together, TMD). This Acquisition will expand CPI's electron device capabilities and product offerings for defense and commercial markets. TMD is a world-leading designer and manufacturer of technologically advanced microwave, radio frequency, and high voltage equipment for radar, electronic warfare, communications, medical, EMC testing, and scientific applications.
TMD has brought new products and technological capabilities to CPI's established portfolio of electronic components and subsystems focused primarily on the defense and communications markets. TMD's range of reliable and innovative products includes traveling wave tubes (TWTs), TWT amplifiers, transmitters, microwave power modules, high voltage power supplies, and other microwave devices and amplifiers.
"TMD has a well-earned global reputation for high-reliability transmitters and microwave devices, in particular state-of-the-art microwave power modules and TWT amplifiers. We have long been impressed by the quality of TMD's people and technology. Adding TMD's proven products to CPI's Electron Device Business will provide a TMD with a prosperous, long-term home for their business and will enable the companies to offer customers broader capabilities and more comprehensive solutions for radar, electronic warfare, communications, EMC testing, and related applications," said Andy Ivers, president, and chief operating officer of CPI.
The newly acquired business will be owned and operated as a subsidiary of CPI and will be part of CPI's Electron Device Business, which focuses on components used in the generation, amplification, transmission, and reception of microwave signals. TMD's leadership team will remain with the business and report to Todd Treado, president of CPI's Electron Device Business.
"Having worked in close partnership with them on a number of key programs, we have come to strongly appreciate CPI's approach to customer service, reliability, and innovation. We see these as an excellent fit for the culture at TMD, which is based on the same values. The TMD team looks forward to our next chapter, growing the business within CPI and continuing to be the best partner to our customers for innovative and reliable radio frequency and high voltage power solutions," said Dave Brown, who leads the TMD operations.
The transaction was funded using CPI's existing cash balances. The financial terms of the acquisition were not disclosed.