Ultra acquires secure comms specialist for $30million
Defence electronics supplier, Ultra Electronics, has bought secure communications specialist 3e Technologies International from EF Johnson Technologies. Ultra is paying $30million in cash for the company, with an additional $1m payable by early 2014.
3e designs, develops, markets and supports military grade wireless local area network access points, mesh networks, security software, and encryption technologies for military, government and commercial markets.
For the year ended 31 December 2009, 3e generated revenue of $29.1m. The acquisition of 3e is expected to be earnings enhancing in 2011.
The US company will continue to operate from its existing facilities as a bolt on acquisition, reporting to Alan Barker, president of Ultra's Tactical Systems division.
"3eTI complements Ultra's existing strengths in software defined radios, communication systems and electronic warfare systems. There are also synergies with Ultra's market positions for border security and base protection," said Rakesh Sharma, chief operating officer of Ultra.
