CPI International to be Acquired by Veritas Capital for $19.50 per Share

CPI International, Inc. CPII announced earlier today the signing of a definitive merger agreement under which CPI International will be acquired by an affiliate of Veritas Capital Fund IV for $19.50 per share in cash. The purchase price reflects a premium of approximately 35 percent over the closing price of CPI common stock on November 24, 2010, and 38 percent over the average closing price of the CPI common stock for the 90 days ending November 24, 2010. The transaction is valued at approximately $525 million.