HEICO acquires 89% share of Connect Tech

Electronic Technologies Group of Miami-based aerospace company HEICO Corp. has announced it has acquired 89.99% of Canada-based niche embedded computing company Connect Tech Inc. (CTI), the company said.

CTI will be acquired for cash at closing, plus potential additional cash consideration to be paid if certain post-closing earnings levels are attained. Further financial details were not disclosed.

HEICO Corp. (NYSE: HEI.A) (NYSE: HEI) is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group.

Connect Tech Inc. is NVIDIA´s largest global embedded hardware partner offering a wide array of NVIDIA Jetson solutions, as well as embedded solutions for a variety of industry standards.