API Diversifies with MEMS
TORONTO - API Nanotronics Corp. closed acquisition of National Hybrid Inc., a privately held NY-based components provider to defense sectors, and its subsidiary Pace Technology Inc. The deal closed with API paying $9.75 million, cash.
This acquisition bolsters API’s product offerings, research and manufacturing capabilities, and advanced package capabilities, said Phillip DeZwirek, chairman and CEO. National Hybrid is in the midst of constructing an advanced MEMS production and micro-fabrication facility in North America, housing R&D for nanotechnology. The company also manufactures high-density multi-chip modules (MCMs) and custom hybrid microcircuits for clients such as Raytheon and the Department of Defense (DoD). API’s goal is to diversify into MEMS- and nanotechnology-based products while increasing revenues.