Date: Jan 10, 2011 Source: Company Data (
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DRS Sonar Systems, LLC, a DRS/Thales joint venture, announced that it has acquired Advanced Acoustic Concepts, Inc. (AAC), a privately held company headquartered in Hauppauge, NY.
The combined company will conduct business as "Advanced Acoustic Concepts, LLC, a DRS/Thales Company."
The announcement follows completion of a review of the acquisition by the Committee on Foreign Investment in the United States (CFIUS) and its determination that there were no unresolved national security concerns with respect to the transaction.
AAC is a technical leader in the fields of sonar systems, sonar signal processing, acoustic training systems, and open architecture system and software integration.
"We are creating an entity with proven experience in the field of undersea warfare," said Richard Danforth, president and CEO of DRS Defense Solutions. "Advanced Acoustic Concepts benefits from the innovative and proven Thales product portfolio and the world class system integration and manufacturing capabilities of DRS. AAC has deep domestic acoustic signal processing, system development and system integration expertise and a demonstrated track record of providing superior value open architecture solutions to the U.S. Navy."
"Bringing Advanced Acoustic Concepts into the joint venture will enable us to focus on emerging areas in the undersea warfare domain where the customer has identified mission-critical needs," said Allan Cameron, President and CEO of Thales USA. "We expect Advanced Acoustic Concepts to be a formidable competitor in the U.S. undersea warfare market. Our focus will be on providing responsive customer solutions with superior technology at competitive prices and short delivery times."
AAC President Michael Carnovale added, "Being part of the DRS/Thales venture will give AAC the ability to access new markets while offering our existing government and commercial customers additional products, services and solutions necessary to ensure success through all stages of their missions."
DRS Defense Solutions, LLC, a wholly-owned subsidiary of DRS Technologies, Inc, is headquartered in Bethesda, MD. DRS Technologies, headquartered in Parsippany, NJ, is a leading supplier of integrated products, services and support to military forces, intelligence agencies and prime contractors worldwide. The company is a wholly-owned subsidiary of Finmeccanica S.p.A. (FNC.MI) which employs more than 76,000 people worldwide. For more information about DRS, please visit the company's website at www.drs.com.
Thales is a global technology leader for the Defense & Security and the Aerospace & Transport markets. In 2009, the company generated revenues of $18 billion (12.9 billion Euros) with 68,000 employees in 50 countries. With its 22,500 engineers and researchers, Thales has a unique capability to design, develop and deploy equipment, systems and services that meet the most complex security requirements. Thales has an exceptional international footprint, with operations around the world working with customers as local partners. www.thalesgroup.com
