ROSELAND, N.J., 25 Aug. 2008.Curtiss-Wright Corp. officials announced that they have submitted a letter to embedded-computing supplier Vmetro ASA in Houston, Texas, stating Curtiss-Wright's intention to launch a voluntary offer to acquire 100 percent of the outstanding stock of Vmetro ASA at a price per share of NOK 12.06 in cash.
The launch of the voluntary offer is subject to certain contingencies, including completion of a limited due diligence and there being no material adverse change in the business and business assets of Vmetro before the launch of the offer, Curtiss-Wright officials say. There is no assurance that any offer will be launched.
Curtiss-Wright officials declined to comment further on the announcement.
This is not the first time that Curtiss-Wright has acquired a company in the embedded military market. During the last decade, the Curtiss-Wright Controls Embedded Computing division, based in Leesburg, Va., has added embedded board and system suppliers such as Vista Controls, Novatronics, Systran Corp., Dy 4 Systems, Peritek, Synergy Microsystems, and Pentland Systems.
Vmetro also plays in this market, providing commercial-off-the-shelf (COTS) board- and system-level embedded computer products for applications in aerospace, defense, industrial, communications, medical, enterprise computing, and network storage.