SEPTEMBER 7--Sensors Unlimited (Princeton, NJ) has accepted the $60 million cash offer to merge with Goodrich Corporation. The definitive agreement has been approved by the boards of directors of Sensors Unlimited and Goodrich Corporation and is expected to close in the fourth quarter of 2005. The transaction is subject to approval by US regulatory agencies. 2005 sales for the new business are expected to be $19 million.
Under the terms of the agreement, Goodrich will acquire a business that has pioneered the design and production of SWIR technology. Sensors Unlimited is a provider of indium gallium arsenide (InGaAs) imaging technology--which provides superior imaging performance in extremely low light conditions--and has in-house manufacturing capabilities for advanced infrared cameras and SWIR and NIR focal-plane arrays.
According to Marshall Larsen, chairman, president, and chief executive officer of Goodrich, "This is a strategically important acquisition for our surveillance and reconnaissance business. Our DB-110 airborne reconnaissance system, a technology currently flying with the UK's Royal Air Force is capable of leveraging the addition of short-wavelength infrared technology. Our laser perimeter awareness systems that support emerging homeland security needs may also incorporate that technology to enhance their capabilities, thereby expanding the already broad portfolio of solutions we can offer to the marketplace."
With a 39,000-sq ft facility in Princeton, NJ, and more than 50 employees in manufacturing and engineering roles, the new business will become part of Goodrich's existing Optical and Space Systems division.
Goodrich Corporation, a Fortune 500 company, is a global supplier of systems and services to aerospace, defense, and homeland-security markets. With one of the most strategically diversified portfolios of products in the industry, Goodrich serves a global customer base with significant worldwide manufacturing and service facilities. For more information visit www.goodrich.com.
