VTG Expands Naval Tech Portfolio With ASSETT Purchase; John Hassoun Quoted

VTG has purchased Manassas, Virginia-based undersea warfare and unmanned system developer ASSETT in a deal that brings artificial technology applications to the former’s portfolio of naval systems.

Financial terms of the deal were not disclosed and the acquired company will function as a center of excellence for product development within the VTG enterprise, the aerospace and defense engineering contractor said Wednesday.

Jim Shannon, president of ASSETT and a retired U.S. Navy rear admiral, will continue his leadership role during the post-acquisition integration process.

John Hassoun, president and CEO of VTG, said ASSETT is working on technology he believes could serve as a foundation to interconnected architectures for naval platforms such as submarines, unmanned vehicles and command, control, communications, computers, combat systems, intelligence, surveillance and reconnaissance systems.

He added that the combined company will aim to bring transformational technologies to the Navy and other defense customers.

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