Applied Cellular Technology Inc, the broadband communications operation that recently called off its planned merger with Able Telecom Holding Corp (CI No 3,311), has acquired Control Technology Specialists. Applied anticipates the deal will bring it $5m in revenues and $500,000 in pre-tax profits this year, although it hasn’t revealed the financial terms of the purchase. Nixa, Missouri-based Applied announced plans shortly before Christmas to spend $100m buying Able Telecom, but then just as suddenly changed its mind. And now just weeks later, the company claims to have filled a gap in its Manufacturing Group, bringing with it the potential for substantial growth. Established in 1977, Sacramento, California-based CTS is a distributor of controls and applications for factory automation, commercial heating and air conditioning, as well as a fabricator of control panels. As a result of the deal, CTS will be able to sell products from Burling Instrument and Cra-Tek, subsidiaries previously acquired by Applied. Applied is busy trying to grow through acquisition and was very busy over the summer. In one week the company announced the closure of its 80% buy of UK satellite modem operation Signal Processors Ltd (CI No 3,221) and an 80% chunk of Advanced Telecommunications Inc (CI No 3,219). Prior to the August announcements shares were knocking around the $3 to $3.5 mark, before soaring to a year high of $9.75 in October. Shares were trading at $4.0625 as we went to press.
