Curtiss-Wright Acquires TTC
Curtiss-Wright Corp completed acquisition of Teletronics Technology Corp for u$s 233M in cash. TTC provides data acquisition and flight test instrumentation systems
Curtiss-Wright, January 04, 2017 - CHARLOTTE, NC - Curtiss-Wright Corporation today announced that it has completed the acquisition of Teletronics Technology Corporation (TTC) for $233 million in cash.
TTC is a leading designer and manufacturer of high-technology data acquisition and comprehensive flight test instrumentation systems for critical aerospace and defense applications.
The acquisition provides increased breadth to Curtiss-Wright’s existing data acquisition product portfolio, as well as geographic expansion and the opportunity to leverage TTC’s domestic presence and Curtiss-Wright’s existing international presence.
The business will operate within Curtiss-Wright's Defense segment and its sales are principally to the aerospace defense market. Further, TTC meets our stated acquisition requirements and is expected to be accretive to Curtiss-Wright’s 2017 earnings per share, excluding the effects of purchase accounting.
TTC is a recognized leader in comprehensive and integrated data acquisition technologies through telemetry systems that include data analysis units, sensors, transmitters, receivers, and ground station analysis tools to measure, record, transmit, and analyze aircraft and munitions parameters during test flights. Founded in 1998, TTC employs 225 people and is based in Newtown Pa.
About Curtiss-Wright Corporation: Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 8,400 people worldwide.