Business

August 20, 2012

Global Digital Solutions to acquire Airtronic USA

Global Digital Solutions, a company that is positioning itself as a leader in providing knowledge-based and culturally attuned social consulting and security-related solutions in unsettled areas, has signed an exclusive letter of intent to acquire Illinois-based Airtronic USA, Inc.

The companies have agreed, on an exclusive basis, to enter into good faith discussions involving a potential strategic combination in which Airtronic would be acquired by GDSI. If the acquisition is completed as expected, Airtronic will continue to operate as a subsidiary of GDSI.

The exclusive agreement is subject to the completion of due diligence reviews by both companies and certain other conditions, including agreement by the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division. Airtronic is currently a “debtor” under Chapter 11 of the Bankruptcy Code.

“This proposed strategic acquisition is extremely exciting for both GDSI and Airtronic,” said GDSI founder and largest shareholder Richard J. Sullivan, who will become non-executive chairman of GDSI after the acquisition is completed. “I’m looking forward to finalizing all necessary approvals and working with Dr. Merriellyn Kett and the entire Airtronic team going forward. Airtronic has a great track record of manufacturing essential battlefield weapons for the United States and our allies and is well-connected with key agencies in the U.S. and around the world. Working together, I believe GDSI and Airtronic will be a very powerful combination that fits perfectly into GDSI’s evolving strategy to become a leader in knowledge-based consulting and security-related solutions in unsettled, complex areas.”

 




All of this week's top headlines to your email every Friday.


 
 

 

News Briefs February 27, 2015

Ukraine will start pulling back heavy weapons in the east Ukraine’s military says it will start pulling back its heavy weapons from the front line with Russian-backed separatists as required under a cease-fire agreement. The Defense Ministry said in a statement Feb. 26 that it reserved the right to revise its withdrawal plans in the...
 
 

Northrop Grumman’s AstroMesh reflector successfully deploys for NASA’s SMAP satellite

The NASA Jet Propulsion Laboratory successfully deployed the mesh reflector and boom aboard the Soil Moisture Active Passive spacecraft, a key milestone on its mission to provide global measurements of soil moisture. Launched Jan. 31, SMAP represents the future of Earth Science by helping researchers better understand our planet. SMAP’s unmatched data capabilities are enabled...
 
 
NASA photograph by Brian Tietz

NASA offers space tech grants to early career university faculty

NASA photograph by Brian Tietz Tensegrity research is able to simulate multiple forms of locomotion. In this image, a prototype tensegrity robot reproduces forward crawling motion. NASA’s Space Technology Mission Director...
 

 
navy-china

USS Fort Worth conducts CUES with Chinese Navy

The littoral combat ship USS Fort Worth (LCS 3) practiced the Code for Unplanned Encounters at Sea (CUES) with the People’s Liberation Army-Navy Jiangkai II frigate Hengshui (FFG 572) Feb. 23 enhancing the professional ma...
 
 

AEGIS tracks, simulates engagement of three short-range ballistic missiles

The Missile Defense Agency and sailors aboard the guided-missile destroyers USS Carney (DDG 64), USS Gonzalez (DDG 66), and USS Barry (DDG 52) successfully completed a flight test involving the Aegis Ballistic Missile Defense weapon system. At approximately 2:30 a.m., EST, Feb. 26, three short-range ballistic missile targets were launched near simultaneously from NASA’s Wallops...
 
 

DOD seeks novel ideas to shape its technological future

The Defense Department is seeking novel ideas to shape its future, and officials are looking to industry, small business, academia, start-ups, the public – anyone, really – to boost its ability to prevail against adversaries whose access to technology grows daily. The program, called the Long-Range Research and Development Plan, or LRRDP, began with an...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>