US-based defence research and development (R&D) company SRC has acquired SAZE to augment its customer and product portfolio.
Established in 2012, SAZE is involved in radar research and development. With the acquisition, the company has now become a subsidiary of SRC.
Before the completion of this transaction, SAZE served as a subcontractor for its new owner.
SAZE will now operate as a subsidiary under SRC Ventures. The transaction also involves the transfer of 11 SAZE employees. These employees will continue to operate from their company’s office in Maryland, US.
SRC CEO Paul Tremont said: “This venture will bring new capabilities to our extensive radar knowledge base. The result will be an accelerated timeline for delivering systems to our warfighters. This will be a great synergy of R&D cultures and we look forward to having SAZE employees join the SRC enterprise family.”
The company will focus on leveraging SAZE’s technology to develop life-saving systems for the defence of the armed forces.
SAZE founder and managing member Toby Aylesbury said: “We’re excited to be part of such a well-respected company. SRC has been one of the top radar developers for decades and we’ve always admired their innovation. After working with them in the past, our employees are eager to be part of the team and help develop new systems to protect our troops.”
Last month, SRC received a contract from BAE Systems to build and deliver common electronic attack receiver (CEAR) systems that are capable of performing real-time analysis of countermeasures for true-to-life training against radio frequency threats.
The system is used in testing military aircraft’s ability to detect and defeat real-world threats.
The company is also a supplier of AN/TPQ-50 LCMR counterfire radar system to the US Army for 360° surveillance for early warning and location of rocket, artillery and mortar threats.
In April, SRC won a position on the $37bn US Army Responsive Strategic Sourcing for Services (RS3) indefinite-delivery, indefinite-quantity contract.