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DRS Technologies acquires Soneticom

Sep 17, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Company: DRS Technologies, Inc. (DRS)

DRS Technologies, Inc., a supplier of defense electronic products, systems, and military support services, has acquired all of the outstanding shares in Soneticom, Inc., a designer, developer, and manufacturer of communications systems for both government and commercial clients. Both the companies are based in the US.

Announcement (May 21, 2009):

A subsidiary of DRS Technologies has signed an agreement to acquire all of the outstanding shares in Soneticom. 

Deal Type    Acquisition
Sub-Category 100% Acquisition
Deal Status  Completed: 2009-09-16

Deal Participants 

Target (Company)   Soneticom, Inc.
Acquirer (Company) DRS Technologies, Inc.

Deal Rationale

The acquisition would allow DRS Technologies to expand its product portfolio and strengthen its intelligence systems business. The transaction would complement DRS' current line of communications solutions.

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Company: DRS Technologies, Inc. (DRS)


Related terms: acquisition, business, commercial, communications, defense, government, manufacturer, military, technology

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