Mercury Computer Systems acquires Myriad Logic
APRIL 2--Mercury Computer Systems Inc. (Chelmsford, MA; www.mc.com) has acquired Silver Spring, MD-based Myriad Logic Inc., a developer of I/O and network-interface technology.
APRIL 2--Mercury Computer Systems Inc. (Chelmsford, MA; www.mc.com) has acquired Silver Spring, MD-based Myriad Logic Inc., a developer of I/O and network-interface technology. The cash transaction, valued at $7.5 million, will be recorded along with certain acquisition costs in Mercury's fourth fiscal quarter, ending June 30, 2002. Impact to the company's earnings per share in FY2002 should be neutral and is anticipated to be accretive thereafter.
Said Jay Bertelli, president and CEO of Mercury Computer Systems, "Mercury has been looking to expand its capability to provide more of a total system solution, and at the same time our customers have been requesting the company assume responsibility for more of the systems-integration requirements. Virtually all of our systems require some type of high-performance I/O capability, and Myriad Logic has been a recognized leader in I/O subsystems within our various markets. Combining the high-performance I/O products and core competencies of the Myriad team with our high-performance systems and system-design capabilities will allow us to respond more rapidly to the demands of our customers and remain on the leading edge of providing fully integrated, high-performance signal- and image-processing solutions."