Symmetricom Acquires Timing Solutions Corporation

San Jose, CA and Boulder, CO -- Symmetricom, Inc. announced the acquisition of Timing Solutions Corporation, a privately held company based in Boulder, Colo. that provides high-performance time and frequency products and services for government, aerospace and military markets. Under the terms of the agreement, Symmetricom paid approximately $8.0 million in cash.

Timing Solutions Corporation, founded in 1991, is a leader in precision measurement technology, precision optical time/frequency distribution, two-way timing technology and custom timing systems for government agencies, aerospace and defense customers.

"Symmetricom's Timing, Test, and Measurement Division (TT&M) has over 30 years of experience delivering timing and frequency solutions to customers worldwide, and Timing Solutions Corporation provides world-class time and frequency technology," said Bruce Bromage, executive vice president and general manager of the TT&M division. "The acquisition of Timing Solutions Corporation further strengthens our leadership position in the time and frequency technology field. Timing Solutions Corporation is well respected among its customers, a sector of the government business we have not previously accessed. The combined strength of the two companies will allow us to better serve the government, aerospace and defense markets."

Dr. Samuel Stein, founder, president and CEO of Timing Solutions Corporation, will join Symmetricom as vice president of research and development of the TT&M division and will be based in Boulder, Colo. Dr. Stein has over 30 years of experience in the field of time and frequency and has made numerous individual contributions to precision time measurement technology and new time transfer techniques. He received his Ph.D. in Physics from Stanford University in 1974.

"I am quite excited to be part of the Symmetricom team and look forward to bringing both companies together to serve our customers with innovative products and services," said Dr. Stein.

SOURCE: Symmetricom, Inc.