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02 Apr 15. ITT Announces Acquisition of Hartzell Aerospace. ITT Corporation (NYSE:ITT) has completed the acquisition of Hartzell Aerospace, a leading manufacturer of highly engineered and customized solutions for aerospace environmental control systems on a wide range of high-growth, next-generation aircraft platforms.
“The acquisition of Hartzell Aerospace will unlock powerful new opportunities for ITT to expand its presence on new and existing platforms in the global aerospace industry,” said Denise Ramos, chief executive officer and president. “The addition of Hartzell Aerospace’s high-quality portfolio and innovative technologies will broaden our capabilities, enhance our ability to serve customers and help further position ITT as a leader in the aerospace market.”
Steve Kim, Vice President and General Manager of Aerospace Controls for ITT’s Control Technologies business, said, “Hartzell Aerospace’s technologies and expertise are an ideal complement to our Aerospace business, which is a global leader in actuation, flow control and energy absorption components for the aerospace industry. We are looking forward to enhancing our portfolio of environmental control system solutions, which play a crucial role in passenger comfort and safety, and to bringing together two outstanding teams with a shared commitment to innovation, quality, performance and customer satisfaction.” Hartzell Aerospace has about 240 employees and production facilities in Valencia and Perris, Calif. (Source: ASD Network)
02 Apr 15. CACI Acquires LTC Engineering Associates. CACI International Inc (NYSE:CACI) has acquired LTC Engineering Associates, Inc., a highly specialized provider of technical engineering solutions and services to the Intelligence and Department of Defense communities in the areas of software engineering, cybersecurity, signals intelligence (SIGINT) and communications intelligence (COMINT), and digital signals processing. The transaction expands CACI’s capabilities in its C4ISR (command, control, communications, computers, intelligence, surveillance, and reconnaissance), Intelligence, and Cyber market areas. Terms of the transaction were not disclosed. Headquartered in Florida, LTC employs approximately 50 uniquely skilled and deeply experienced associates. The company’s calendar year 2014 revenue was $16 million. The acquisition is expected to be slightly accretive, given its relative size, to CACI’s earnings per share during its first 12 months.
Dr. J.P. (Jack) London, CACI Chairman of the Board, noted, “CACI’s acquisition of LTC Engineering Associates, Inc. continues our highly successful mergers and acquisition program and is a key component of our strategic growth plan. This acquisition positions CACI with expanded capabilities to deliver innovative and in-demand solutions and services for our customers’ highest-priority national security and defense challenges. Our companies also share a strong commitment to integrity, ethics, and quality in everything we do. We welcome the talented associates at LTC to CACI.”
Ken Asbury, CACI President and Chief Executive Officer, said, “Both CACI and LTC are well positioned to support national intelligence and defense missions that require innovative solutions and services. The LTC transaction is a perfect follow-on and synergistic to our Six3 acquisition in November 2013, adding innovative and complementary security and communications capabilities to counter global threats and meet our nation’s evolving needs in national security. The capabilities of LTC, combined with CACI’s, will bring a unique set of harmonious solutions with significant value to our customers’ most critical missions, help drive our growth, and deliver value to o