Giga-tronics Inc. has sold its switch product line to Astronics Test Systems Inc. for $850,000. A wholly-owned subsidiary of Astronics Corp. (NASDAQ:ATRO), Astronics Test Systems purchased the intellectual property plus an additional $500,000 in related materials inventory from Giga-tronics.
By selling the last of its legacy products to Astronics, Giga-tronics will now be able to focus all of its attention on the manufacture of electronic warfare systems. The company produces instruments, subsystems, and microwave components that are used in defense electronics and aeronautics.
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