Curtiss-Wright Acquires Tactical Communications Group
DAVIDSON, N.C.--(BUSINESS WIRE)--Mar 18, 2019--Curtiss-Wright Corporation (NYSE: CW) today announced that it has completed the acquisition of Tactical Communications Group (TCG), LLC for $50 million in cash. TCG, a private company, is a leading designer and manufacturer of tactical data link (TDL) software solutions for critical military communications systems. The acquired business will operate within Curtiss-Wright’s Defense segment, and is expected to be accretive to 2019 earnings per share excluding the effects of first year purchase accounting adjustments.
“This acquisition yields significant opportunities for growth by enhancing our existing flight test instrumentation offering with complementary tactical data link processing software, analytics and visualization capabilities, and also providing penetration into the tactical data link test, simulation and training markets,” said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. “TCG’s proven commercial off-the-shelf (COTS) TDL software solutions minimize the time and effort required to build, integrate, test, train, and deploy effective and affordable military communications systems. Further, this transaction is consistent with our disciplined acquisition strategy and supports our long-term financial objectives to drive continued profitable growth for our shareholders.”
TCG’s software solutions provide a complete ecosystem for enhancing the value of deployed data link systems. These solutions allow platform integrators to validate their links, provide more valuable data services on their networks, and utilize comprehensive analytics, simulation, scripting, and visualization of the network data to drive effective training and situational awareness solutions.
Founded in 2001, TCG is a recognized leader in tactical data link software solutions for military communications systems around the world. Their products help to secure and exchange wireless communications, including voice, imagery, text, and command and control messages, between various platforms such as ships, aircraft, weapons, and ground vehicles, and by dismounted soldiers. TCG has broad exposure on high-performance military aircraft and at major defense flight test centers. Key products include LinkPro tactical data link processing software, Battlefield Operations Support System (BOSS) software for scripting and simulation capability, and HUNTR for integrating LinkPro software with multi-TDL standard message translation, as well as the Ground TDL System (GTS) hardware test station.
Headquartered in Tewksbury, MA, TCG has approximately 50 employees and generated sales of approximately $15 million in 2018, principally to the aerospace defense market.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 9,000 people worldwide. For more information, visit www.curtisswright.com.
This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 that are based on management’s beliefs and assumptions. Such statements, including statements relating to Curtiss-Wright Corporation’s expectations for the future opportunities associated with the acquisition, the success of integrating Tactical Communications Group’s technology into our existing world-wide network, and the success of the Company integrating Tactical Communications Group into its Defense segment are not considered historical facts and are considered forward-looking statements under the federal securities laws. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such risks and uncertainties include, but are not limited to: a reduction in anticipated orders; an economic downturn; changes in competitive marketplace and/or customer requirements; a change in US government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, marine, electronics and industrial companies. Please refer to the Company’s current SEC filings under the Securities Exchange Act of 1934, as amended, for further information.
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CONTACT: Jim Ryan
KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE MOBILE/WIRELESS MANUFACTURING AEROSPACE ENGINEERING DEFENSE OTHER DEFENSE
SOURCE: Curtiss-Wright Corporation
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PUB: 03/18/2019 04:15 PM/DISC: 03/18/2019 04:15 PM