DRS Technologies to acquire Walkabout Computers
- By William Welsh
- Jun 28, 2005
DRS Technologies Inc. has acquired WalkAbout Computers Inc., the company announced this week. The value of the all-cash purchase was not disclosed.
The acquisition of WalkAbout Computers of West Palm Beach, Fla., will enhance DRS' tactical computer systems business by adding an established industrial customer base, according to company officials. It also will enable DRS to meet the growing demand for tablet personal computers from the military.
WalkAbout designs and manufactures rugged tablet computers and walking stations for mobile users operating in harsh environments. It also develops custom solutions for special market needs and provides aftermarket service and support for an installed base of products.
The rugged, mobile tablet personal computers the company produces are used by in several sectors, including transportation and distribution, military, public safety, utilities, emergency medical services, field service and manufacturing.
WalkAbout Computers is expected to generate between $20 million to $25 million in annual revenues in its first 12 months of operation under DRS ownership, the company said.
The investment banking company of Ryan, Beck & Company Inc. of Florham Park, N.J., served as financial adviser to WalkAbout Computers on the deal.
DRS Technologies of Parsippany, N.J., has about 5,700 employees and annual sales of $1.3 billion. It ranks No. 75
on Washington Technology
's 2005 Top 100
list, which measures federal contracting revenue.
William Welsh is a freelance writer covering IT and defense technology.