 Also in 1995 the group purchased Magnavox Electronic Systems from the Carlyle Group.In 1996 Hughes Electronics and PanAmSat agree to merge their fixed satellite services into a new publicly held company, also called PanAmSat with Hughes Electronics as majority shareholder.In 1995, Hughes Aircraft sold its Technology Products Division (automated wire and die bonder) to an investor group led by Citicorp and incorporated the division as Palomar Technologies.