12th Jun 2007 07:01
Ultra Electronics Holdings PLC12 June 2007 Embargoed until 0700 12 June 2007 Ultra Electronics Holdings plc ("Ultra" or "the Group") Ultra agrees to acquire Criticom Inc. for $33m Ultra announces that it has agreed to acquire Criticom Inc. ("Criticom") for aninitial cash consideration of $28.0m. An additional cash payment of up to $5.0mwill be payable if certain performance based measures are achieved by 30 June2008. The closing of the transaction is subject to CFIUS approval and tocompletion of the Exon-Florio review process and is expected to occur within 45days. The acquisition of Criticom will be financed using Ultra's existingfacilities and is expected to be accretive to 2007 earnings. In the year ended31 December 2006, Criticom achieved sales of $19.3m. Criticom is a business employing approximately 40 people in Lanham, Maryland,USA. The main activity of the company is the design, supply and support ofcustom, secure and non-secure video conferencing solutions. Criticom systemsoperate using Internet Protocol (IP) and Integrated Services Digital Network(ISDN) protocols and can include embedded National Security Agency (NSA) Type 1encryption. The systems are sold into the defence, federal, state and localgovernment market sectors. Criticom also provides turnkey support to a number ofcommon-user secure video conferencing networks including a process of managingtechnology refreshes when appropriate. Criticom has strong synergies with Ultra's existing Tactical CommunicationSystems and DNE Technologies businesses and is highly complementary to theGroup's tactical communication and data link market positions. Criticom willoperate as a business within Ultra's Tactical & Sonar Systems division. Douglas Caster, Chief Executive of Ultra, commented:"Criticom is a company that complements Ultra's existing battlespace IT and secure communication systems capabilities. The acquisition of Criticom broadens still further Ultra's range of specialist solutions that help provide information superiority in support of current operations in the US and worldwide." - Ends - Enquiries: Ultra Electronics Holdings plc 020 8813 4321Douglas Caster, Chief Executive www.ultra-electronics.comDavid Jeffcoat, Group Finance Director [email protected] Weber Shandwick Financial 020 7067 0700Susan Ellis / Louise Robson Notes to editors:Ultra Electronics is a group of specialist businesses designing, manufacturingand supporting electronic and electromechanical systems, sub-systems andproducts for defence, security and aerospace applications worldwide. Ultra, which employs 3,000 people in the UK and North America, focuses on highintegrity sensing, control, communication and display systems with an emphasison integrated information technology solutions. The Group concentrates onobtaining a technological edge in niche markets, with many of its products andtechnologies being market leaders in their field. Ultra's products and services are used on aircraft, ships, submarines, armouredvehicles, surveillance systems, airports and transport systems around the world.Ultra also plays an important role in supporting prime contractors byundertaking specialist system and sub-system integration using the combinedexpertise of the Group businesses. Ultra is organised into three divisions as follows: Aircraft & Vehicle Systems including miniature airborne compressors; highintegrity software and systems; aircraft system electronics; aircraft cockpitindicators; aircraft noise and vibration control systems; airframe protectionsystems, armoured vehicle electronic information and control systems; human/computer interface equipment and shared working environment solutions. Information & Power Systems including command and control systems equipment;weapons interfacing electronics; radar tracking; electro optical tracking;surveillance systems; naval data processing and distribution; airport andairline information management systems; ID card systems; naval power conversion;signature management of naval vessels; transit system power conversion andcontrol. Tactical & Sonar Systems including secure tactical line-of-sight radio systems,multiplexers and switches; voice communication systems; tactical data links;cryptographic equipment; active, passive and multi-static sonobuoys; sonobuoyreceivers and processors; distributed surveillance sensor arrays; ship's sonarsystems; acoustic countermeasure systems and ship's torpedo defence systems. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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