Arotech Purchases UEC Electronics for $33M; Robert Ehrlich Comments

acquisitionArotech (NASDAQ: ARTX) has bought military and aerospace electrical systems manufacturer UEC Electronics through a $33 million cash and stock deal.

The transaction price includes $25 million in cash, $4.82 million in stock and $5.5 million in performance-based earnouts, Arotech said Tuesday.

UEC will operate within the battery and power systems division of Arotech.

“The combination opens up many new market opportunities for us as a combined entity, ” said Robert Ehrlich, chairman and CEO of Arotech.

“UEC brings us significant electronic engineering and manufacturing skills which combines very well with our expertise in military and commercial grade battery technology and management systems, ” Ehrlich added.

Hanahan, S.C.-based UEC delivers power generation systems and C4ISR technology support to larger contractors and government customers such as the U.S. Army and Marine Corps.

Arotech builds multimedia simulators, training equipment, batteries and chargers for military, law enforcement and homeland security applications.

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