Author: Mary-Louise Hoffman|| Date Published: February 26, 2016
General Atomics has agreed to acquire aerospace and defense technical services business Miltec from electronics manufacturing company Ducommun for approximately $14.6 million cash.
The transaction is subject to customary closing terms and is intended to increase General Atomics’ technical expertise in developing small satellites, hypersonic vehicles and similar platforms, General Atomics said Thursday.
Hunstville, Alabama-based Miltec, which generated about $28.2 million in sales during 2015, works with military customers to design, build, integrate and test weapon systems.
Miltec also provides technology engineering and program management services to defense and intelligence organizations, Ducommun noted.
General Atomics has indicated it will integrate the business into the company’s electromagnetic systems group upon completion of the acquisition process.
KippsDeSanto & Co. served as Ducommun’s financial adviser in the transaction.
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General Atomics has agreed to acquire aerospace and defense technical services business Miltec from electronics manufacturing company Ducommun for approximately $14.6 million cash.
