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News

Curtiss-Wright Completes Acquisition of VMETRO


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Curtiss Wright Corporation
: 23 October, 2008  (Company News)
Curtiss-Wright Corporation has completed a voluntary cash tender offer for VMETRO ASA at NOK 12.06 per share.
The total enterprise value for the transaction is approximately $72 million, including assumption of approximately $26 million of net debt. VMETRO will become part of the Motion Control segment's Embedded Computing group.

'VMETRO is a global leader in high-performance embedded computing products, from development through deployment, which will notably enhance Curtiss-Wright's product portfolio in the defense market,' said Martin R. Benante, Chairman and CEO of Curtiss-Wright. 'In addition, their global presence provides an established international distribution channel for our vast portfolio of embedded computing products.'

Founded in 1986, VMETRO is a leading supplier of commercial off-the-shelf (COTS) board- and system-level embedded computing products for applications in aerospace, defense, industrial, communication and medical markets. Key products provide real-time computing capabilities, high-density radar processing, data recording and network storage systems. Application of these products as components or subsystems enables improved response time and critical protection in server and storage appliances, utility mapping and ground penetrating radar.

The company operates globally with headquarters and principal engineering in Oslo, Norway. Additional sales, engineering and distribution networks are established in Sweden, Germany, France, Italy, the U.S. and Asia. The company employs approximately 200 people.
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