Home / M&A Activity / Curtiss-Wright to Purchase Teletronics for $233M; David Adams Comments

Curtiss-Wright to Purchase Teletronics for $233M; David Adams Comments

Curtiss-Wright (NYSE: CW) has agreed to purchase Newtown, Pennsylvania-based commercial aerospace and defense systems provider Teletronics Technology Corporation for $233 million.

Curtiss-Wright said Wednesday the acquired data acquisition and comprehensive flight test instrumentation systems manufacturer will commence operations within the former’s defense segment.

“The acquisition of TTC will yield significant opportunities for growth by increasing the breadth of our data acquisition product portfolio while simultaneously providing greater penetration into our existing markets, ” said David Adams, Curtiss-Wright president and CEO.

“Further, consistent with our stated acquisition strategy, this transaction is expected to support our long-term financial objectives of margin expansion, strong free cash flow and solid return on invested capital.”

TTC has approximately 225 employees that work with customers in the aerospace defense market, Curtiss-Wright added.

Shares in Curtiss-Wright were up $0.88 to $104.85 as of 10:26 a.m. Eastern time and hit a new 52-week high of $105.04 at 9:50 a.m.

Check Also

F5 to Buy Shape Security for $1B; Francois Locoh-Donou Quoted

F5 Networks (Nasdaq: FFIV) has agreed to acquire Santa Clara, Calif.-based Shape Security for approximately $1B in cash as both companies aim to help government and enterprise customers secure digital experience with integrated offerings.

Paratek Secures $169M Anthrax Antibiotic Development Contract Under HHS Project BioShield

The Department of Health and Human Services has awarded Paratek Pharmaceuticals a potential a five-year, $169M contract to further develop an antibiotic drug as a potential treatment for inhalation anthrax.