US Navy Radar Jamming Contract for KOR Electronics
Mercury Computer Systems' subsidiary KOR Electronics gets a US Navy 5-year basic sole source orderiing agreement (BOA). This BOA supports the continued development of state-of-the-art techniques and target generation capabilities in conjunction with the advanced Digital RF Memory (DRFM) architecture developed under a prior Small Business Innovation Research (SBIR) Phase II.5 award issued to KOR Electronics. The BOA provides for research and development, production, engineering services and ongoing support and is valued at up to $58M. "This agreement is a perfect example of how the SBIR program can benefit our country's defense and small business," said Kevin Carnino, KOR Electronics President and Chief Executive Officer.
OSI to Acquire Defense Contracting Company
Offshore Systems International Ltd. acquire a United States defense contracting company. employee base. is a supplier of technology and services to the U.S. key defense prime contractors. acquisitions," said President and CEO, John Jacobson. "We also said the U.S. market was a key target. business. historically lower revenue variability than OSI's navigation business. This newest announcement closely follows the company's first U.S. Utah. the company's rapid growth. significant potential. immediately. regulatory approval.
Radix Marine to Acquire Patrol Craft Prototype
Radix Marine, Inc, a marine vessel development company specializing in homeland defense initiatives, announced today that it has entered into an agreement to acquire, through an Equipment Lease and Purchase Agreement, the GB Challenger Class Craft, the working prototype of the company's high-speed unmanned patrol watercraft. Radix Marine will own the GB Challenger outright at the conclusion of the five-year lease with Blue Ribbon Leasing and Financial, Inc., which acquired the craft from the builder. Radix Marine had previously arranged for the lease of the GB Challenger but decided against finalizing the agreement in lieu of focusing its efforts on other markets.
OSI Provides Update on Acquisition
Offshore Systems International Ltd. definitive agreements for the transaction. letter of intent to purchase the target company on July 11, 2005. "The process is going very well," said President and CEO John Jacobson. Jacobson said that this is a very complicated acquisition. OSI's revenue and employee base. the United States, is a supplier of technology and services to the U.S. Department of Defense and key defense prime contractors.
