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Tag Archives: Rakesh Sharma

ERAPSCO Secures $65M Navy Sonobuoy Production Funds

ERAPSCO, a joint venture between Ultra Electronics and Sparton (NYSE: SPA), has been awarded $64.6 million in contract funds to continue manufacturing sonobuoys for the U.S. Navy. The Ultra Electronics USSI and Sparton De Leon Springs businesses will respectively receive $29.3 million and $35.3 million subcontracts as part of the GFY17 ERAPSCO indefinite-delivery, indefinite-quantity contract, …

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Sparton, Ultra Electronics Holdings JV to Produce Sonobuoys for US Navy; Rakesh Sharma Comments

ERAPSCO, a joint venture of Sparton Corp. (NYSE: SPA) and Ultra Electronics Holdings, has received a pair of subcontracts worth up to $30.3 million over five years to supply sonobuoys to the U.S. Navy. Sparton said Thursday ERAPSCO will provide production subcontracts worth $18.5 million and $11.8 million to Ultra Electronics USSI …

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Ultra Electronics 3eTI to Supply Critical Infrastructure Control Tools Under $82M Navy Contract

The U.S. Navy has awarded Ultra Electronics 3eTI a potential four-year, $82 million contract to continue to provide platforms designed to monitor and control the service branch’s critical infrastructure. The cost-plus-fixed-fee contract has a one-year base term valued at approximately $48.5 million and covers endpoint security, industrial control systems and …

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Ultra Electronics Closes Buy of Kratos’ US, UK Electronic Products Business

British manufacturing conglomerate Ultra Electronics Holdings has completed its purchase of Kratos Defense & Security Solutions‘ (Nasdaq: KTOS) U.S. and U.K. electronic products business for $260 million in cash and $5 million in taxes incurred. Kratos said Monday its net cash proceeds from the transaction are $232.4 million after a $2 million escrow for purchase price adjustments, a $7.6 million working capital …

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Rakesh Sharma: Ultra Electronics to Buy Kratos Division in EW Market Push

Britain-based conglomerate Ultra Electronics has agreed to purchase Kratos Defense & Security Solutions‘ electronic products division for up to $265 million in cash in order to push further into the electronic warfare market. Ultra said Monday Kratos will receive $260 million upfront and up to $5 million in potential additional payments under the …

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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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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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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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