Curtiss-Wright to Buy PacStar for $400M Cash in Tactical Comms Market Push; David Adams Quoted

Curtiss-Wright to Buy PacStar for $400M Cash in Tactical Comms Market Push; David Adams Quoted
David Adams Chairman and CEO Curtiss-Wright

Curtiss-Wright (NYSE: CW) has agreed to acquire Portland, Oregon-based tactical network technology supplier Pacific Star Communications in an approximately $400M cash transaction.

Curtiss-Wright said Thursday it will integrate PacStar into the Davidson, North Carolina-based electronics company's defense segment after the deal's closure slated for the fourth quarter.

PacStar has patented hardware and software, such as the IQ-Core remote operations and management platform, that were built support command, control and communications functions.

David Adams, chairman and CEO of Curtiss-Wright, said the acquisition “represents the largest transaction” in the firm’s recent history and seeks to establish its position as a network communications systems provider in the U.S. military sector.

He added that the company looks to combine its technology offerings with PacStar’s product line in a push to accelerate data link network management and system integration work for defense modernization programs.

Curtiss-Wright expects the deal to be accretive to its adjusted diluted earnings per share during the first year of ownership, excluding purchase accounting costs for the initial one-year period.

You may also be interested in...

Brandon Wales Acting Director CISA

Brandon Wales: CISA’s New Campaign Aims to Help Public, Private Sectors Defend Against Ransomware

The Cybersecurity and Infrastructure Security Agency has launched a campaign to promote the use of cybersecurity tools and best practices to increase ransomware threat awareness across the public and private sectors.

The White House

President Biden Issues COVID-19 Data Collection Order

President Joe Biden has ordered federal agencies to work with the government's COVID-19 response coordinator in efforts to collect, publish and share pandemic-related data and address disinformation or misinformation campaigns regarding the public health crisis.