DRS to acquire NAI Technologies

Executives of DRS Technologies Inc. in Parsippany, N.J., signed an agreement to buy NAI Technologies Inc. of Huntington, N.Y., which provides rugged computers, peripherals, and integrated systems for military, government, and commercial applications. DRS leaders are buying NAI to broaden their defense electronics and systems integration expertise, company officials say. DRS specializes in data processing, display, and storage. NAI shareholders will receive 0.23 of a share of DRS common stock for

Oct 1st, 1998

Executives of DRS Technologies Inc. in Parsippany, N.J., signed an agreement to buy NAI Technologies Inc. of Huntington, N.Y., which provides rugged computers, peripherals, and integrated systems for military, government, and commercial applications. DRS leaders are buying NAI to broaden their defense electronics and systems integration expertise, company officials say. DRS specializes in data processing, display, and storage. NAI shareholders will receive 0.23 of a share of DRS common stock for each share of NAI common stock held, subject to adjustment if the average daily closing of DRS common stock is less than $12 over a 60-day trial period ending two days prior to the closing date. The deal is to close Dec. 31. For more information, contact DRS on the World Wide Web at http://www.drs.com/. - J.K.

More in Communications