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Symtx Acquired For $34.3M

Austin, Texas-based Symtx, a manufacturer of high performance functional test solutions for the electronics industry, was acquired Tuesday by Hunt Valley, Maryland based United Industrial Corporation. Symtx employs 169, and will continue to be based in Austin. The deal is worth $34.3M in cash plus up to $5M in earnout. Symtx's customer include major defense and aerospace prime contractors and the U.S. military. According to United Industrial Symtx had revenues of $36.3M for the 12 months ended September 30, 2006. Symtx was advised by Jeffries Quarterdeck in the deal.