TT Electronics, an engineer and manufacturer of electronics, agreed to acquire Torotel, a manufacturer of electrical components, for $43.4m. The transaction is expected to close in the fourth calendar quarter of 2020 and is subject to the approval of Torotel's shareholders and regulatory conditions. "We are very excited to join TT, a global provider of engineered electronics for performance critical applications. TT has a demonstrated commitment to continued investment in power devices for the aerospace and defense markets. We see this as a great opportunity for our employees to be part of a growing dynamic company. This acquisition enhances our existing customer relationships by leveraging our shared product offering, manufacturing expertise, and engineering capabilities," Herb Sizemore, Torotel Chairman, President and CEO.