Watkins-Johnson Seeks Buyer for Unit

Watkins-Johnson Co. said it hired the investment banking company Bentley Hall Von Gehr to find a buyer for its defense electronics business. The business generated more than $85 million in revenue last year, about 19% of total revenue, and employs about 500 people. The products being sold include communications systems and guidance equipment for missiles made by Lexington, Mass.-based Raytheon Co., Dallas-based Texas Instruments Inc. and Los Angeles-based Hughes Electronics, a division of General Motors Corp. In a statement, Palo Alto-based Watkins-Johnson said it expects to complete a sale of its defense electronics business by the end of the year.