3 Phoenix Acquired by Ultra Electronics
The McLean Group announced that it acted as the exclusive mergers and acquisitions (M&A) advisor to 3 Phoenix, Inc. (3 Phoenix) in its sale to Ultra Electronics Holdings plc (Ultra) for an initial cash consideration of $70 million. Additional payments of up to $17 million will be due subject to earnings growth over the next three years. 3 Phoenix is a supplier of specialist sonar, radar, intelligence, surveillance and reconnaissance products and solutions. For 10 years, the company has delivered mission critical, real-time sensor and processing systems, primarily to the U.S. Navy, but also to commercial customers. 3 Phoenix is a bolt-on acquisition to Ultra's existing Tactical & Sonar Systems Division.
Navy Sonobuoy Contract for Sparton & USSI J/V
US-based Sparton Corporation and Ultra Electronics - USSI, a subsidiary of Ultra Electronics Holdings plc (ULE) announce the award of subcontracts valued at $10.8 million to their ERAPSCO joint venture, for the manufacture of sonobuoys for the United States Navy. The Q53F and Q125 sonobuoys are used to support the United States Naval Antisubmarine Forces. The primary purpose of a sonobuoy is to detect acoustic emissions or reflections from potentially hostile submarines and transmit these signals to US Navy airborne antisubmarine warfare forces. ERAPSCO was awarded a contract for the AN/SSQ-53F, a passive acoustic sensor used for detection…
Lockheed Martin Awarded $35.8m Navy Contract
Lockheed Martin has been awarded a $35.8m contract by the U.S. Navy to design and produce antenna buoy systems that will expand the communications capabilities of submarines while they are submerged. The Navy's Communications at Speed and Depth (CSD) program will use expendable submarine and air-launched communications buoys to enable submarines operating below periscope depth and at tactical speeds to communicate with surface ships and land-based assets via satellite networks. All classes of U.S. Navy submarines will be equipped with this capability. Under the contract, a Lockheed Martin-led industry team will develop three types of expendable communications buoys: two submarine-launched tethered buoys that provide real-time chat…
