TransDigm, a producer, designer and supplier of engineered aerospace components, agreed to acquire the electron device business from TJC-backed Communications & Power Industries, a manufacturer of electronic components and subsystems, for $1.39bn. "We are excited about the acquisition of the Electron Device Business of CPI. This business fits well with our long-standing strategy. The vast majority of the company's revenues come from highly engineered, proprietary products with substantial aftermarket content. The company has established positions across a diverse range of new and existing platforms within the broader aerospace and defense industry. As with all TransDigm acquisitions, we expect this acquisition to create equity value in-line with our long-term private equity-like return objectives," Kevin Stein, TransDigm President and CEO.