Aeroflex Signs Manufacturing and Technology License Agreement With Sanders for Microelectronic Processor Boards
Receives Initial Purchase Orders Valued At $3.4 Million
PLAINVIEW, N.Y.--(BUSINESS WIRE)--Nov. 9, 1998-- Aeroflex Incorporated (NYSE Symbol: ARX - news), announced today that its subsidiary, Aeroflex Laboratories, Inc., and Sanders, a Lockheed Martin Company, signed a Manufacturing and Technology License Agreement which provides Aeroflex with an exclusive license to manufacture microelectronic RISC Processor Boards using Sanders' technology. The Processor Boards are utilized in various avionic systems. The agreement provides for royalties payable to Sanders based on future sales of product utilizing the technology. Sanders has placed $3.4 million in purchase orders for products incorporating the licensed technology, with additional orders of up to $10 million anticipated through mid-1999 under options contained in the agreement. Each order is expected to be delivered within 18 months of receipt. Sales of the Processor Boards by Aeroflex are not restricted to Sanders.
''The products covered by the Agreement utilize our high-performance, 64 Bit MIPS RISC Processor family and complement our Databus/Datacom product portfolio,'' said John Buyko, Vice President of Sales/Marketing of Aeroflex microelectronics. ''The Processor Boards may be used in both commercial and defense avionics mission computer/flight control systems. We expect this new product offering to increase our presence in this marketplace. Our target markets are aircraft manufacturers and avionic systems sub-contractors.''
Aeroflex Incorporated through its subsidiaries, utilizes advanced technologies to provide state-of-the-art microelectronic module, interconnect and testing solutions used in communication applications for commercial and defense markets. It also designs and manufactures motion control systems and shock and vibration isolation systems used for commercial, industrial and defense applications.
Sanders is an operating company of the Lockheed Martin Electronics Sector, a leader in the design, development and manufacture of electronics systems for global defense, civil and commercial markets. Sanders is a major producer of aircraft self-protection systems and tactical surveillance and intelligence systems for all branches of the armed forces. Other major business areas include microwave, mission and space electronics; automated mission planning systems; and commercial telecommunications systems. |
