MANHASSET, N.Y. Magnetic components supplier Pulse has completed the acquisition of Finland-based LK Products Oy, a supplier of cellular and non-cellular antennas and integrated modules for mobile handsets.
Under the deal, originally announced last month, Technitrol agreed to pay $83 million to purchase LK from Filtronic (Leeds, England), which was seeking to unload the company to reduce its debt.
The deal makes Pulse (San Diego, Calif.) the second largest global supplier of handset antennas, building on its line of RF magnetic components for wireless and RF applications.
"The acquisition of LK makes Pulse a major player in the wireless communications market," said Alan Benjamin, Senior Vice President of Pulse's Signal Products Group, in a statement. "Our antenna business is poised to grow significantly in the next few years. LK is now the cornerstone of the newly formed antenna products division in Pulse's Signal Products Group."
The LK team will continue to be led by its current management under Jouni Anttila, who becomes Vice President, Antenna Products at Pulse. The group will remain in Kempele, Finland.