TORONTO – Artaflex said it would acquire MTI International in a deal between EMS companies.

The company has agreed to pay shareholders and other security holders of MTI up to $12.75 million in cash, plus cash held by MTI as of the closing date, less excluded liabilities.

Both firms are electronics manufacturing services providers. MTI specializes in complex, low to medium volume assemblies, including printed circuit boards, final box build and system integration, for the defense, aerospace and medical industries.

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