Lynch Corporation acquired PTI through a wholly owned subsidiary, M-tron Industries, Inc., which designs and manufactures electronic components used primarily to control the frequency or timing of electronic signals in communications systems and equipment. PTI makes a complementary line of precision oscillators, resonators, and filters used in a broad range of commercial and military electronic and communications systems.
The two companies will integrate their operations under the new name MtronPTI. Marc Gabelli, chairman of Lynch Corporation, said, "As a single company, MtronPTI will be able to better serve its customers by providing an extended product line and integrated sales, engineering, product development and production capabilities."
Bob Zylstra, from M-tron, will become president and CEO of MtronPTI; Paul Dechen, from PTI, will become the vice president for business development; and Dr. Bill Horton, co-founder and chairman of PTI, will become chairman emeritus. Marc Gabelli said, "This is a very sound acquisition for the company and an important initial step as we put together a plan to grow Lynch Corporation and build value for all of our shareholders."