Argon ST closes CSI buy
- By William Welsh
- Aug 17, 2007
Argon ST Inc. has completed its acquisition of Coherent Systems International Corp., a provider of defense electronics products and services. The closing is effective as of Aug. 12.
Argon ST of Fairfax, Va., paid about $20 million in cash and debt assumption. The transaction terms provide for an additional $17.5 million for CSI's achievement of certain revenue, bookings and contract award milestones in the period from the closing date until Dec. 31, 2008.
CSI handles many aspects involved in the deployment and installation of defense electronics systems that support mission critical, command, control, communications, electronic warfare and facility security solutions. Its capabilities include engineering, software development and systems integration.
CSI's customers are the Marine Corps, Air Force, Navy, U.S. Special Operations Forces and allied nations.
"The combination of the two companies will provide customers significant additional opportunities to leverage complementary technologies, programs and products to improve tactical operations," said Terry Collins, Argon ST's president and chief executive officer.
Argon ST designs, develops and produces systems and sensors for the command, control, communications, computers, intelligence, surveillance and reconnaissance markets. These systems and solutions address needs for signals intelligence, electronic support measures, electronic warfare, information operations and more.
William Welsh is a freelance writer covering IT and defense technology.