Canadian firm Mission Ready Services Inc. announced that its PTF Manufacturing division has acquired certain assets of ForceOne LLC. The assets acquired include manufacturing assets, trademark, customer list, and 23 certifications of models that comply with the US DOJ NIJ standard-0101.06 for ballistic-resistance of body armor of ForceOne. With the acquisition, PTF Manufacturing will manufacture various tactical products out of its Tennessee facility including various tactical vests and flexible shields. PTF Manufacturing will also offer various ForceOne armor accessories. Deal terms were not disclosed.
Actua Corporation announced that it has agreed to sell its GovDelivery business to Vista Equity Partners in a deal worth $153 million. Actua originally acquired GovDelivery in 2009 for $20 million. GovDelivery’s digital communications platform is used by over 1,800 customers to promote usage of services, enhance public awareness and increase citizen involvement. While GovDelivery’s exact annual revenue is not disclosed, it’s estimated to be over $50 million. The transaction is expected to close in the fourth quarter of 2016. Stephens Inc. served as the deal advisor to GovDelivery.
Motorola Solutions announced that it has agreed to acquire Spillman Technologies, a provider of law enforcement and public safety software solutions for computer-aided dispatch and records management systems. Based in Salt Lake City, Utah and serving over 1,700 government agencies, Spillman offers software and cloud-based solutions for jail management systems, fire, mobile data, data sharing, field reporting, mapping and geographic information systems. The transaction is expected to close in the fourth quarter of 2016. Deal terms were not disclosed.
Drone USA Inc. announced that it has acquired Howco Distributing Corp., a provider of construction, transportation, mining and heavy equipment parts to both commercial and government clients. In 2012, Howco won DLA’s Bronze Supplier Award. The company reported 2015 revenues of $23.4 million and EBITDA of $1.78 million.
Howco was acquired for $3.5 million using $2.6 million in cash, a promissory note for $900K and 500K warrants with an exercise price of $0.01 per share. Wellington Shields & Co. LLC was the lead placement agent.
MARCOA Publishing announced that it has acquired Automated Housing Referral Network (AHRN.com), an online marketplace for military housing. AHRN.com helps landlords, property managers and real estate professionals connect with military tenants and home buyers. Deal terms were not disclosed.
CALIBRE Systems Inc. announced that it has acquired Fusion Technology LLC, a Reston, Virginia-based provider of talent management solutions and instructional systems design strategies to the Intelligence Community. KippsDeSanto & Co. advised Fusion on the transaction. Deal terms were not disclosed.
OSI Systems Inc. announced that it has completed its acquisition of American Science and Engineering Inc. (AS&E) in a deal worth $37 per share or approximately $269 million. AS&E is a provider of detection solutions for cargo and personnel inspection. The acquisition provides OSI with additional inspection capabilities based on X-ray backscatter technology including the Z Backscatter Van and MINI Z portable backscatter based inspection.
L-3 Communications announced that it has agreed to acquire Micreo Limited, an Australian specialist in electronic warfare subsystems. Micreo provides high-performance microwave, millimeter wave and photonic technology for various ISR and EW applications. In addition, the company has counter-IED capabilities. The business, which will be integrated into L-3’s Electronic Systems Segment and renamed L-3 Micreo, is projected to generate $27 million of revenue in 2017 and be accretive to earnings. Deal terms were not disclosed.
The LGL Group Inc. announced that it has acquired certain assets from Precise Time and Frequency Inc. (PTF Inc.). Based in Wakefield, Massachusetts, PTF Inc. provides high performance frequency and time reference standards used in various applications. The acquired assets will be held in a newly-formed subsidiary called Precise Time and Frequency LLC. Deal terms were not disclosed.
Southern Research, a not-for-profit 501(c)(3) company, announced that it has acquired the assets of Curved Skies LLC. Based in Houston, Curved Skies is a professional services company that specializes in high altitude geospatial technologies and engineering studies for commercial and government clients.
According to the press release: “Through this acquisition, the Southern Research Engineering division increases its Houston presence and expands its capabilities in advanced airborne government and commercial technologies such as high-resolution imagery, full-motion video, hyperspectral imaging, and advanced communication systems.”
Deal terms were not disclosed.
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