General Dynamics to buy wireless company
- By Brad Grimes
- Jun 10, 2004
General Dynamics Corp. has agreed to acquire TriPoint Global Communications Inc., a privately held supplier of satellite and wireless communications products and services for video, voice and data applications.
Terms of the agreement were not disclosed. The companies expect the deal to close in the third quarter.
Officials at Falls Church, Va.-based General Dynamics said the TriPoint acquisition will allow the company to expand its offerings and help it develop mobile communications solutions for the Defense Department and other government customers.
"TriPoint Global Communications ? enhances our tactical and 'on the move' communications networking capabilities," said Jerry DeMuro, General Dynamics executive vice president and group executive for Information Systems and Technology.
With approximately 1,450 employees, Newton, N.C.-based TriPoint supplies base station and earth station communications products and services, including antennas, antenna systems and wireless backhaul products.
The company will become part of General Dynamics' C4 systems business unit.
General Dynamics spent about $3 billion on acquisitions in 2003. The company is involved in various aspects of the Defense Department's transition to network-centric warfare, which will lean heavily on wireless and satellite communications.
With 2003 revenue of $16.6 billion, General Dynamics ranked No. 6 on Washington Technology's 2004 Top 100 list, which measures federal contracting revenue.