January 22, 2010 (FinancialWire) — API Technologies Corp. (OTCBB: ATNY), a prime contractor in secure communications, electronic components and subsystems to the global defense and aerospace industries, said it has acquired substantially all of the assets of the Kuchera Group of Companies, including Kuchera Defense Systems, Inc. and Kuchera Industries, Inc.

KGC is a U.S.-based defense subcontractor specializing in electronics and systems for the defense, aerospace and communications industries.

Under the terms of the transaction, API acquired substantially all of the assets of KGC for $24 million, $14 million payable in cash and $10 million financed with a short-term note from the Sellers, plus 3.2 million shares of API common stock.

The API shares will be issued in three tranches over a period of 24 months. The company said it funded the cash portion of the purchase through a $20 million debt facility.

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