02:03 PM EDT, 06/06/2024 (MT Newswires) -- TransDigm Group ( TDG ) said Thursday it completed the acquisition of Communications & Power Industries' electron device business for $1.385 billion in cash.

The company said it financed the deal with cash on hand and cash proceeds from note offerings in November.

The electron device business makes electronic components and subsystems with a focus on the aerospace and defense market.

Shares of TransDigm ( TDG ) fell 2% in recent trading Thursday.

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