Ericsson To Acquire Microwave Power Devices

Ericsson (Stockholm, Sweden) reported that it has struck a deal to acquire Microwave Power Devices Inc. (MPD, Hauppauge, NY) in a stock deal worth approximately $200 million dollars.Ericsson will pay $8.70 per MPD share and will commence a cash tender offer for all outstanding MPD shares within the next 10 days. Although MPD's board has already approved the merger, the deal is still subject to all of the customary closing conditions.Mats Dahlin, executive vice president of Ericsson stated, "MPD's technical expertise, volume production experience and commitment to quality will further strengthen Ericsson's position as the leading infrastructure supplier of the variety of needs from wireless operators."