McKean Defense Group has wrapped up its purchase of Mikros Systems for approximately $4.6 million, or 13 cents per share, through a cash transaction first announced in November.
Chuck Bristow will continue to serve as president of Mikros, which develops software and hardware for condition-based, preventive and planned maintenance tasks, McKean Defense said Monday.
Joseph Carlini, CEO of McKean Defense, said that Mikros’ prognostics framework and SYM-3 monitoring technology for U.S. Navy littoral combat ships present a growth opportunity for the combined organization.
The deal was McKean’s first acquisition and part of its push to grow diagnostic analytics and systems monitoring offerings for the Navy.
