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Releases > 2004.07.30
Wallingford, CT (USA) - Ultra announces that it has completed the acquisition, originally announced on 21 June, 2004, of DNE Systems, Inc. ("DNE") for a cash consideration of US $40.0M. An additional cash payment of up to US $3M will be payable if a certain performacne-based measure is achieved by 31 March 2005. DNE was a wholly-owned subisidiary of The Alpine Group, Inc. and closure follows the successful completion of US regulatory review and approvals.
DNE will operate under the trading name of Ultra Electronics DNE Technologies within Ultra's Tactical & Sonar Systems division. DNE is a business employing approximately 130 people in Wallingford, Connecticut, USA. The main activitiy of the company is the design, manufacture, and support of battlespace IT products that control access to military tactical communication networks. DNE's products are used by all branches of the US Armed Forces. DNE also provides a range of specialist electrical and electronic equipment for miltary and commercial aircraft.
For more information contact:
Dr. Julian Blogh, Chief Executive
Douglas Caster, Chief Operating Officer
+44 020 8813 4321
www.ultra-electronics.com
information@ultra-electronics.com
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