Beretta Holding SpA announced that its German subsidiary Steiner has acquired Sensor Technology Systems (STS) and Diffraction LTD from The O'Gara Group. Beavercreek, Ohio-based STS provides night vision goggles to special operations forces around the world. Diffraction is based in Burlington, Vermont and specializes in electro-optic devices including digital and fused imaging systems, optical beacons, and lasers.
Pietro Gussalli Beretta, President and CEO of Beretta Holding states: "Through the acquisition of STS and Diffraction, our Group achieves a fundamental step in its growth plan to achieve a leadership position in the field of electro-optics. We will continue our process of internationalization and investment in R&D to support the growth of all the companies of the group and to design products and solutions that are always innovative and competitive."
Both deals closed on December 31, 2015 and was financed using internal sources without external funding. Deal terms were not disclosed.
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