Curtiss-Wright to Expand Position in Data Acquisition & FTI Markets with Acquisition of Teletronics Technology Corporation
WILL ADD LEADING SUPPLIER OF DATA ACQUISITION AND FLIGHT TEST INSTRUMENTATION SYSTEMS TO EXISTING PORTFOLIO OF FTI, USAGE MONITORING, AND SPACE-QUALIFIED COTS PRODUCTS AND SERVICES FOR AEROSPACE & DEFENSE CUSTOMERS
ASHBURN, Va. – December 7, 2016 -- Curtiss-Wright’s Defense Solutions division announced today that it expects to significantly enhance its position in and commitment to the US and global data acquisition and flight test instrumentation (FTI) markets following Curtiss-Wright Corporation’s announced intention to acquire Teletronics Technology Corporation (TTC). The acquisition is expected to close in early 2017 and remains subject to regulatory approval and other closing conditions. TTC is a leading designer and manufacturer of high-technology data acquisition and comprehensive FTI systems for critical aerospace and defense applications. The addition of TTC’s platform test product portfolio will greatly expand the breadth of the Defense Solutions division’s FTI, Usage Monitoring, and Space-qualified Commercial-Off-The-Shelf (COTS) products and services, and will enable it to better serve its customers in the US and worldwide.
"With the acquisition of TTC, Curtiss-Wright’s Defense Solutions division firmly establishes its position as a leading global supplier of data acquisition and flight test instrumentation systems for the aerospace and defense markets,” said Lynn Bamford, Senior Vice President and General Manager, Defense Solutions division. “Combined with our current Avionics & Electronics solutions, which support space instrumentation, flight test, telemetry, ground test, system monitoring, structural monitoring, and mission recording applications, TTC’s broad product portfolio will greatly expand our market reach and capabilities.”
Founded in 1998, TTC is a recognized leader in comprehensive and integrated data acquisition through telemetry systems that include data analysis units, sensors, transmitters, receivers, and ground station analysis tools to measure, record, transmit, and analyze aircraft and munitions parameters during test flights. TTC has broad exposure on more than 140 programs, including high-performance military aircraft such as the F-35 and F-18, major defense flight test centers, spacecraft, missile programs, and commercial and business jets. Key products include data acquisition units, recorders, network products, RF networks, airborne transmitters and receivers, and telemetry expansion cards.
TTC is headquartered in Newtown, Pa. and has approximately 225 employees. The acquired business will operate within Curtiss-Wright's Defense segment.
For more information about Curtiss-Wright’s Defense Solutions division, please visit www.curtisswrightds.com.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 8,400 people worldwide. For more information, visit www.curtisswright.com.
This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 that are based on management's beliefs and assumptions. Such statements, including statements relating to Curtiss-Wright Corporation's expectations for the future opportunities associated with the acquisition, the success of transferring Teletronics’ technology throughout our existing world-wide network, and the success of the Company integrating Teletronics into its Defense segment are not considered historical facts and are considered forward-looking statements under the federal securities laws. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such risks and uncertainties include, but are not limited to: a reduction in anticipated orders; an economic downturn; changes in competitive marketplace and/or customer requirements; a change in US government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, marine, electronics and industrial companies. Please refer to the Company's current SEC filings under the Securities Exchange Act of 1934, as amended, for further information.