Ultra acquires 3 Phoenix in $70M deal

Ultra Electronics Holdings has acquired 3 Phoenix Inc. in a $70 million that brings Ultra sonar, radar, intelligence, surveillance and reconnaissance products and solutions.

Ultra bought 3 Phoenix from its management team, which will stay with the business.

3 Phoenix has 182 employees, and its main customers are the Navy and the commercial sector.

The company will be bolted onto Ultra’s Tactical and  Sonar Systems Division, and integration will occur throughout 2014.

The McLean Group advised 3 Phoenix on the deal.