© mikael damkier dreamstime.com Electronics Production | September 25, 2020
Curtiss-Wright acquires Portland-based communications company
Curtiss-Wright Corporation has entered into an agreement to acquire the stock of Pacific Star Communications (PacStar), for USD400 million in cash.
PacStar is a private company and a provider of tactical communications solutions for battlefield network management, including commercial off-the-shelf (COTS)-based rugged, small form factor communications systems, and its proprietary “IQ-Core Software” integrated network communications management software. The acquired business will operate within Curtiss-Wright's Defense segment and is expected to generate sales in excess of USD 120 million in 2020. PacStar is expected to be accretive to Curtiss-Wright's adjusted diluted earnings per share in its first full year of ownership. "The acquisition of PacStar establishes Curtiss-Wright as a critical supplier of advanced tactical and enterprise network communications solutions supporting a broad spectrum of high-priority U.S. military force modernization programs,” says David C. Adams, Chairman and CEO of Curtiss-Wright Corporation, in a press release. “The combination of Curtiss-Wright’s mission-critical mobile and secure COTS-based processing, data management and communications technologies with PacStar’s highly complementary hardware and software solutions will enable us to deliver best-in-class platform network integration and tactical data link network management to the warfighter. “PacStar, which represents the largest transaction in Curtiss-Wright’s recent history, is well-positioned to benefit from the military’s continued investment in robust, secure and integrated battlefield network management and is expected to yield significant opportunities for revenue growth,” the CEO continues. PacStar, which employs nearly 145 people (30+ engineers) and is based in Portland, Oregon, primarily generates sales from the ground defense market. The acquisition is expected to close in the fourth quarter of 2020, subject to regulatory approval and other closing conditions.