Ultralife Batteries completes acquisition of Innovative Solutions Consulting
NEWARK, N.Y., 3 Oct. 2007. Ultralife Batteries Inc. in Newark, N.Y., has completed its $3 million acquisition of Innovative Solutions Consulting Inc. (ISC), an engineering and technical services company in Hollywood, Md.
NEWARK, N.Y., 3 Oct. 2007.Ultralife Batteries Inc. in Newark, N.Y., has completed its $3 million acquisition of Innovative Solutions Consulting Inc. (ISC), an engineering and technical services company in Hollywood, Md.
The purchase price consists of $1 million in cash and an earn-out of as much as $2 million to be paid over three years. Ultralife officials say the transaction will be accretive in 2008. ISC will continue operating in Maryland.
"Our acquisition of ISC will broaden our relationships with a diverse group of U.S. governmental agencies and prime defense contractors and expand our distribution channels for our broad range of communications accessories, portable power products and integrated engineering services," says John D. Kavazanjian, Ultralife's president and chief executive officer.
ISC designs mobile, modular, and fixed-site communication and electronic systems. ISC was awarded a prime contract by the U.S. Air Force to provide the Battle Control System-Mobile (BCS-M) program's Communication Switch Subsystem (CSS) and also has several subcontracts with local prime contractors such as L-3 Communications Systems, BAE Systems and Booz Allen & Hamilton to support the Naval Air System Command (NAVAIR) Special Communications Requirements Division (SCRD).