PALO ALTO, California ( TheStreet) -- CPI International ( CPII) agreed to be acquired by an affiliate of Veritas Capital for $19.50 a share in cash, or $525 million. The purchase price is a premium of about 35% over CPI's closing price Wednesday of $14.47, and 38% over the average closing price of CPI for the 90 days to Wednesday. CPI International provides technology to the defense, communications, medical and scientific markets. Shareholders that own about 49% of CPI shares have entered into a voting agreement with Veritas Capital. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.