Hopkinton electronic components maker Valpey Fisher Corp. is being acquired by CTS Corp. of Indiana for $18.1 million.
The companies said CTS will acquire all of the issued and outstanding shares of the Hopkinton company for $4.15 per share in cash. Valpey Fisher’s board of directors has approved the deal, which must also meet shareholder approval and other closing conditions.
After the closing of the transaction, slated for January, Valpey Fisher will operate as an indirectly wholly-owned subsidiary of CTS.
Sales for Valpey Fisher over the past four reported quarters totaled about $15 million.
