DRS buys Codem for $29 million

DRS Technologies Inc. acquired Codem Systems Inc. for $29 million in cash, plus additional money if certain financial targets are met, said officials from DRS.

The privately held Codem of Merrimack, N.H, provides signals intelligence systems, network interface modules and high-performance antenna control systems. Codem focuses on solutions for communications and surveillance applications supporting intelligence, military and homeland security markets. Its expertise is in systems engineering software, hardware development and end-user training.

In its first year of operation under DRS, Codem is expected to generate about $25 million in annual revenue, officials said.

DRS is in Parsippany, N.J., and provides technologies such as thermal imaging devices, combat display workstations and flight incident recorders to defense, government intelligence and commercial customers. It also offers communications and surveillance systems, diagnostics and test systems, and training and simulation systems.