Ultra Electronics Holdings has acquired US battlespace IT specialist ProLogic for an initial cash consideration of US$50m.
In addition, Ultra will pay US$5m as a retention incentive for key staff and up to a further US$8m to the vendors if certain growth targets are met over the next three years.
The acquisition is subject to regulatory approvals and is expected to close within 30 days.
It will be financed using Ultra’s existing facilities and is expected to add to Ultra’s 2008 earnings.
According to Ultra Electronics, the closing of the deal is expected to occur in no later than 30 days.
ProLogic provides specialised products and solutions for mission-critical enterprise IT, tactical data communication systems and intelligence processing infrastructures, as well as independent IT consulting services to US Government customers.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Ultra Electronics is a group of specialist advanced technology businesses that design, manufacture and support electronic and electromechanical systems, sub-systems and products for defence, security, aerospace and transport applications worldwide.
Ultra’s products and services are used on aircraft, ships, submarines, armoured vehicles, surveillance systems, airports and transport systems.
By staff writer