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CPI Buys Econco in Tube Deal

CPI Buys Econco in Tube Deal

Communications & Power Industries has made its first acquisition under new ownership. CPI will acquire Econco Broadcast Service from that company’s founders and controlling shareholders, in a deal expected to close this month.
Terms were not disclosed. CPI said the workforce and management of Econco will join CPI. David Elliot, president of Econco, and Joe Caldarelli, CEO of CPI, made the announcement.
Econco dates to 1968. It provides rebuilding services for vacuum electron devices in the broadcast and other markets.
CPI, a company descended from Varian, sells vacuum electron devices, satellite communications amplifiers, medical imaging generators and other equipment for defense and commercial applications. It is based in Palo Alto, Calif. and was acquired by the Cypress Group last January.
Econco is in Woodland, Calif., where it moved in 1969. The company won the first U.S. government contract to rebuild tubes, in 1975.