EDO acquires IST signals intelligence company, forms Intelligence and Information Warfare business

NEW YORK CITY, 18 September 2006. EDO Corporation has completed the acquisition of Impact Science & Technology Inc (IST), a privately-held company that provides signals intelligence (SIGINT) systems and analysis support to the intelligence community, and advanced countermeasures and electronic-attack systems to the Department of Defense and other government agencies.

Sep 18th, 2006

NEW YORK CITY, 18 September 2006. EDO Corporation has completed the acquisition of Impact Science & Technology Inc (IST), a privately-held company that provides signals intelligence (SIGINT) systems and analysis support to the intelligence community, and advanced countermeasures and electronic-attack systems to the Department of Defense and other government agencies.

EDO has acquired all the outstanding shares of the company for $124 million, consisting of a cash payment of $106 million and an $18 million promissory note to be paid over three years.

"The acquisition of IST doubles the scope of our business with the intelligence community and adds important new technologies," says EDO chief executive officer James M. Smith. "These include advanced radar countermeasures, electronic attack, and electronic intelligence systems, software products, and systems engineering and analysis services."

IST is EDO's third acquisition in the area of intelligence systems and countermeasures since mid 2005. It will be integrated with the already-combined business of EVI-NexGen to form a new business sector named Intelligence and Information Warfare. The Intelligence and Information Warfare sector will become part of EDO's Electronic Systems and Communications reporting segment.

IST has approximately 200 employees and is based in Nashua, N.H., with additional operations in Maryland and Colorado. Revenue for the 12 months ended March 31, 2006 was $63 million. Over the past five years, revenue has grown at a compound annual growth rate of 60 percent.

EDO Corporation designs and manufactures products for defense, intelligence, and commercial markets. Major product groups include: Professional and Engineering Services, Defense Electronics, Communications, Aircraft Armament Systems, Undersea Warfare, and Integrated Composite Structures.


More in RF/Analog