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Integral Acquires CVG-Avtec
[Satellite TODAY 03-08-10] Integral Systems has acquired privately held CVG and its subsidiary, Avtec Systems, for $35 million in cash, Integral announced March 5.
CVG-Avtec provides secure, satellite-based communication solutions to government and commercial markets. The company offers integrated ground systems infrastructure solutions for satellite communications, payload data processing, simulation and testing for military, intelligence, government and commercial programs worldwide.
The acquisition will be financed with a combination of Integral System’s existing cash available and borrowings under a new $55 million secured credit facility.
“With this acquisition, we increase our footprint in the satellite communications and unmanned aerial vehicle markets and augment our customer offerings for satellite ground control and processing. In addition, CVG-Avtec’s talented employees — many of whom have high-level security clearances — broaden our in-house system engineering and product development capabilities,” Paul Casner, president and CEO of Integral Systems, said in a statement.
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