DRS Technologies Secures Codem Systems
DRS Technologies Inc. of Parsippany, N.J., has purchased Codem Systems Inc. of Merrimack, N.H., in a stock purchase valued at roughly $29 million in cash, with additional payment as certain financial goals are achieved. Employed in electronic warfare, communications intelligence, and radio spectrum management, Codem's high-frequency-signal intelligence systems complement DRS' intelligence systems business. Codem also offers its product base, customer relationships and its position in growing markets.
In other news, DRS will produce short and very long wavelength IR focal plane array sensor modules to support the Wide-Field Infrared Survey Experiment satellite in the NASA Medium Explorer program. The project will result in a stellar infrared map that is more than a thousand times more detailed than previous surveys. DRS received the $5.4 million contract from the Space Dynamics Laboratory of the Utah State University Research Foundation in North Logan. Its Sensors and Targeting Systems unit in Cypress, Calif., will fabricate the devices.
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