Qioptiq logo Raytheon


20 May 11. FLIR Systems, Inc. (NASDAQ:FLIR – News) has entered into a definitive agreement with William J. Parrish and E. Timothy Fitzgibbons to settle claims filed in 2008 arising out of FLIR’s acquisition of Indigo Systems Corporation in 2004, Plaintiffs’ ensuing employment with FLIR, and litigation between the parties filed by FLIR in 2006. Under the terms of the settlement agreement, FLIR will make a cash settlement payment of $39m to Plaintiffs for dismissal of all claims in the current litigation and a non-exclusive license for use of certain infrared technology. The case was pending in the California Superior Court for the County of Santa Barbara.
“We are happy to move past this litigation and feel the settlement is in the best interests of FLIR’s shareholders and employees,” said Earl R. Lewis, President and CEO of FLIR. “Eliminating the distraction and expense that accompanies such a case will allow our management team to focus on growing our business and developing the most technologically advanced, cost-effective thermal imaging and threat detection systems in the industry.”

25 May 11. Eurocopter Holding, a subsidiary of EADS (EURONEXT: EAD), and Vector Aerospace Corporation (TSX:RNO – News), a Canadian company listed on the Toronto Stock Exchange, announced today that the expiry time of the offer by 7762798 Canada Inc., a wholly-owned subsidiary of Eurocopter Holding, to acquire at a price of C$13.00 in cash per share all of the outstanding Common Shares of Vector Aerospace, including all shares that may be issued on the exercise of options granted under Vector Aerospace’s stock option plan (the “Offer”), has been extended until June 30, 2011, to allow the remaining required regulatory approvals to be obtained. All other terms and conditions of the Offer described in the Offeror’s Offer and Circular dated April 15, 2011 remain the same. On April 21, 2011, the Offeror received confirmation that the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (United States) had expired. On May 9, 2011, the applicable statutory waiting period under the Competition Act (Canada) expired. While the Canadian Competition Bureau’s substantive review of the transactions contemplated by the Offer has not been completed, the Offeror expects that written clearance from the Canadian Commissioner of Competition will be obtained prior to June 30, 2011. On May 19 2011, the Offeror received confirmation of approval by the Committee on Foreign Investment in the United States. (Source: Yahoo!/Marketwire)

24 May 11. BAE Systems announced today that it has reached an agreement for the proposed sale of its Composite Structures business in Brea, California, to EnCore Composites Holdings, Inc.
“The decision to sell the Composite Structures business was made to better align the company’s strategic objectives and business portfolio,” said Frank Pope, President of BAE Systems Land & Armaments.
BAE Systems acquired the Composite Structures business through its purchase of United Defense in 2005. Composite Structures designs and manufactures complex, highly-engineered composite components and assemblies that are primarily used on commercial and defense aerospace platforms. The proposed sale is expected to close during the second or third quarter of 2011. (Source: Yahoo!/BUSINESS WIRE)

24 May 11. Moog Inc. (NYSE:MOG.A – News) (NYSE:MOG.B – News) has acquired Animatics Corporation. The purchase price is approximately $25m consisting of 467,749 shares of Moog Class A stock (based on a 30 day average price of $42.76) and $5m in cash. Animatics, founded in 1987, is a leading supplier of SmartMotor™ servo motors and linear actuators used in industrial applications. Animatics had trailing 12 month revenues of $15m. Animatics’ integrated servos, or SmartMotors, linear actuators and control electronics are used in a variety of industrial, medical and defense applications including factory automation, flight sim

Back to article list