WASHINGTON Aug 25 (Reuters) - Veritas Capital, the New York-based private equity firm, is exploring the sale of radar component-maker Anaren Inc. in a deal that could fetch around $700 million, several people familiar with the matter said.
Anaren’s microwave assemblies are used in the United States’ Long Range Discrimination Radar (LRDR), the system used by the U.S. military to track intercontinental ballistic missiles launched from places like North Korea.
Veritas has hired investment bankers to work on the sale which is in its early stages, the people said. The sources spoke on condition of anonymity because the talks are private.
In 2014, Veritas paid $383 million to take Anaren private. Previously, Anaren had been listed on the NASDAQ stock exchange.
Veritas Capital declined to comment. Anaren did not immediately respond to a request for comment. (Reporting by Mike Stone in Washington)