Ultra Electronics Holdings Plc (ULE.L) on Monday said it has acquired Miami, Florida-based Zu Industries Inc. for a cash consideration of $76.6 million. Zu is a bolt-in acquisition to ProLogic, within Ultra's Information & Power Systems division.
Zu, which specializes in the provision of equipment for cyber surveillance systems, employs over 20 staff. As part of the transaction, Ultra has also acquired the membership interests of an associated business named Bushido LLC.
In a separate statement, Ultra said it has also acquired Special Operations Technology, Inc. or SOTECH for a cash consideration of $38.4 million.
Maryland, USA-based SOTECH offers turnkey communications surveillance systems, integrating proprietary and commercial-off-the-shelf data analytic tools to manage large volumes of data from mobile, fixed line and broadband networks. The firm employs over 130 staff, the majority of whom hold high-level clearances. SOTECH will be part of Ultra's Information & Power Systems division.
Ultra Electronics noted that both acquisitions will be financed using its existing facilities and would be earnings-enhancing in 2012 before amortisation of intangibles.
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