16th Jun 2008 07:00
Embargoed until 0700 16 June 2008
Ultra Electronics Holdings plc
("Ultra" or "the Group")
Ultra completes acquisition of ProLogic
Ultra announces that it has completed the acquisition, originally announced on 2 June, of ProLogic, Incorporated ("ProLogic") for an initial cash consideration of US$50 million. The closing of the acquisition followed the successful completion of US regulatory review and approvals.
The acquisition of ProLogic is being financed using Ultra's existing facilities and is expected to be earnings accretive in 2008.
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Enquiries:
Ultra Electronics Holdings plc 020 8813 4321
Douglas Caster, Chief Executive www.ultra-electronics.com
David Jeffcoat, Group Finance Director information@ultra-electronics.com
Weber Shandwick Financial 020 7067 0700
Susan Ellis / Louise Robson
Further information about Ultra:
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, which employs 3,500 people in the UK and North America, focuses on high integrity sensing, control, communication and display systems with an emphasis on integrated information technology solutions. The Group concentrates on obtaining a technological edge in niche markets, with many of its products and technologies being market leaders in their field.
Ultra's products and services are used on aircraft, ships, submarines, armoured vehicles, surveillance systems, airports and transport systems around the world. Ultra also plays an important role in supporting prime contractors by undertaking specialist system and sub-system integration using the combined expertise of the Group businesses.
Ultra is organised into three divisions as follows:
Aircraft & Vehicle Systems including miniature airborne compressors; high integrity software and systems; aircraft system electronics; aircraft system test equipment; aircraft cockpit indicators; aircraft noise and vibration control systems; airframe protection systems, armoured vehicle electronic information and control systems; human/computer interface equipment and crisis information management systems.
Information & Power Systems including command and control systems equipment; mission-critical enterprise IT systems; tactical data communication systems; intelligence processing infrastructures; independent IT consulting services; weapons interfacing electronics; radar tracking; electro optical tracking; surveillance systems; naval data processing and distribution; airport and airline information management systems; ID card systems; naval power conversion; signature management of naval vessels; transit system power conversion and control.
Tactical & Sonar Systems including secure tactical line-of-sight radio systems, multiplexers and switches; secure video-conferencing systems; voice and magneto-inductive communication systems; tactical data links; cryptographic equipment; active, passive and multi-static sonobuoys; sonobuoy receivers and processors; distributed surveillance sensor arrays; ship's sonar systems; acoustic countermeasure systems and ship's torpedo defence systems.
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