Rakesh Sharma: Ultra Electronics Targets Security Sector with Forensic Tech Buy

acquisitionUltra Electronics Holdings has acquired ballistics identification and forensic analysis provider Forensic Technology WAI Inc. for approximately $86 million.

Forensic Technology, a Montreal, Canada-based company, will retain its current management team and operate within Ultra’s tactical and sonar systems division from Forensic Technology’s existing headquarters, Ultra said Monday.

Rakesh Sharma, chief executive of Ultra, said the company intends for the acquisition to grow its presence in the security sector.

Ultra will further develop Forensic Technology’s document security and analytic offerings over the coming year with an estimated cost of nearly $1.4 million.

The transaction is scheduled to complete in the second quarter of 2014 following regulatory approvals.

Ultra is set to pay an additional $5.5 million to Forensic Technology investors over the next two years.

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