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EDO Acquires Emblem Group.
Business Editors
NEW YORK & LONDON--(BUSINESS WIRE)--June 16, 2003
EDO Corporation (NYSE:EDO) has acquired 100% of the outstanding stock of the Emblem Group Ltd, a privately held company based in Brighton, UK. The company was acquired debt free, at a purchase price of GBP15.25 million ($25.6 million). Emblem had revenues in 2002 of GBP15.0 million ($25.2 million).
Emblem is a supplier of niche aerospace and defense products and services, primarily through its MBM Technology unit in the UK, and Artisan Technologies in the U.S. The company has a core competency in aircraft weapons-carriage and -interfacing systems that will reinforce EDO's position as the global leader in aircraft armament-release systems.
"This acquisition further strengthens a …
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Source: HighBeam Research, EDO Acquires Emblem Group.
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