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Search Results for: Ultra Electronics

Rakesh Sharma: Ultra Electronics-Sparton JV Secures $87M Navy Sonobuoy Manufacturing IDIQ

Sparton (NYSE: SPA) and Ultra Electronics Holdings’ ERAPSCO joint venture has been awarded a five-year, $87 million contract to manufacture sonobuoys for the U.S. Navy. Rakesh Sharma, CEO of Ultra Electronics, said Monday the contract reflects the Navy’s “increased focus on anti-submarine warfare and ‘pivot to the Pacific.’” ERAPSCO will …

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

Ultra 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, …

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DARPA Selects Industry, Academic Research Teams for Potential $1.5B Electronics Resurgence Initiative

The Defense Advanced Research Projects Agency has chosen multiple research teams from the commercial and academic sectors to address microelectronics innovation challenges as part of an initiative worth up to $1.5 billion over five years. DARPA said Tuesday the Electronics Resurgence Initiative covers six “Page 3” programs that seek to explore …

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General Atomics Buys Xagenic Assets to Complement Defense Microelectronics Devt

San Diego-based General Atomics has purchased certain assets of molecular diagnostics technology maker Xagenic in a push to continue advances in the defense microelectronics, advanced sensor and signal processing technology areas. General Atomics said Thursday it will integrate the acquired assets into a bio-sensor technology development unit of its electromagnetic systems business in Rancho Bernardo, …

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EDF Energy awards Ultra €12.9M contract

Ultra Electronics Holdings, a global supplier of nuclear instrumentation and control systems, announced today that EDF Energy has awarded a €12.9 million contract to Ultra’s Nuclear Control Systems for the manufacturing and support of EDF Energy-owned nuclear reactors in the UK. Ultra currently supplies safety-based equipment to 186 reactors in …

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Rakesh Sharma: Ultra Targets Aerospace Footprint Growth With ICE Buy

Ultra Electronics Holdings has purchased aerospace electrical power management provider ICE Corporation for $8.6 million from private investors. Rakesh Sharma, CEO of Ultra, said Tuesday his company intends for the ICE acquisition to expand Ultra’s technologies for the aerospace sector and grow its presence in the U.S. market. “I am …

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ERAPSCO to Produce Sonobuoys for Navy Under Potential $1B IDIQ

ERAPSCO, a joint venture of Sparton and Ultra Electronics, has been awarded a potential $1.04B contract to build and deliver sonobuoys to the U.S. Navy from fiscal 2019 through fiscal 2023. The indefinite-delivery/indefinite-quantity contract covers the production of 932,500 AN/SSQ-62F, AN/SSQ-53G, AN/SSQ-36B and AN/SSQ-101B sonobuoys, the Department of Defense said Thursday.

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Cerberus Completes Purchase of Sparton; Dev Kapadia Quoted

Cerberus Capital Management completed its purchase of Sparton Corp., a defense and aerospace electromechanical device manufacturer, in a cash transaction worth approximately $18.50 per share. The deal was initially announced in mid-December. Sparton said Monday it stopped trading on the New York Stock Exchange following completion of the sale. Dev …

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Brian Cunningham Named Salesforce Public Sector Strategic Account Exec

Brian Cunningham, a former senior manager at Accenture (NYSE: ACN), has joined Salesforce (NYSE: CRM) as strategic account executive of the cloud services provider’s public sector business, FedHealthIT reported Thursday. Before Accenture, he served in business development positions at Performix Consulting and Technatomy. He previously worked as director of business capture at Ultra …

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