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Intelek, the Swindon-based electronic systems manufacturer, is to be acquired by Teledyne of the US for about £28m.

Intelek has sold Pascall Electronics, the manufacturer of power supplies and radio frequency components, to Xcel Corporation for £4.7m.

Intelek is to acquire Sierra Networks' Satcom division for £3.5m, in order to expand its US-based Paradise Datacom communications technology business.

Intelek is planning to raise £10m in a share issue to fund the expansion of its electronics manufacturing business, and has also announced the acquisition of satellite modem company Paradise Datacom.