http://www.rttnews.com/2131234/ultra-electronics-acquires-privately-held-varisys-quick-facts.aspx6/6/2013 2:15 AM ET
Ultra Electronics Holdings Plc. (ULE.L) Thursday said it has acquired privately-held Varisys Limited for an initial cash consideration of 16 million pounds. Additional payments of up to 2 million pounds will be payable, based on performance over the next two years.
Varisys is a designer and manufacturer of products for high performance embedded computing applications. Its products and services portfolio include bespoke solutions for customers operating in the aerospace, defence, telecommunications, and industrial sectors.
The acquisition will give Ultra an organic capability in this niche area, allowing group businesses to meet customer requirements more quickly and cost-effectively.
Varisys is a British company based in High Wycombe, UK. It was acquired from its founders Paul Gentle and Adam Barnes, both of whom would remain with the business under Ultra ownership.
