Solid State PLC (AIM:SOLI) has announced the acquisition of Q-Par Antennas for $2 million (£1.55 million).
Q-Par, which will be integrated into Solid State’s Systems division, provides antenna systems and related technologies primarily for defence and security applications for US contractors.
The acquisition, which will be funded from Solid State’s existing cash resources, is aimed at bolstering Solid State’s US operations and enhancing access to the US antenna market.
Gary Marsh, chief executive of Solid State, said: "The acquisition of Q-Par Antennas secures a valuable distribution channel and gives the group an opportunity to further invest in the medium-term growth opportunity in the US markets.
“As Solid State broadens its footprint and product offering in the US market, locally recognised and accredited sales channels enable scale, particularly into niche markets."