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.


 
 

 

Headlines July 21, 2014

News: IDF releases Iron Dome interception rate - Israel’s Iron Dome system has successfully intercepted 86 percent of the Palestinian rockets that it has engaged during Operation ‘Protective Edge’, according to the Israel Defense Forces.   Business: The turnaround of France’s defense giant Thales - Within seconds of meeting Jean-Bernard Levy it becomes apparent that h...
 
 

News Briefs July 21, 2014

Corruption investigated in Kansas National Guard The Kansas Adjutant General’s office says federal authorities are investigating possible corruption involving outside medical companies’ contracts with the Kansas Army National Guard. Sharon Watson, spokeswoman for the adjutant general’s office, confirmed the investigation Friday to The Lawrence Journal-World but declined to rel...
 
 
Air Force photograph by Rick Goodfriend

B61 undergoes testing in AEDC wind tunnel

Air Force photograph by Rick Goodfriend Arnold Engineering Development Complex engineers recently joined researchers with Sandia National Laboratories to perform a wind tunnel test on a full-scale mock-up B61. Pictured with the...
 

 
Army photograph by Charles Kennedy

New CT scanner finds diverse, important uses for researchers

Army photograph by Charles Kennedy Turning a now-standard tool for medical diagnostics and therapeutics to a host of new applications, the U. S. Army Research Laboratory’s Survivability/Lethality Analysis Directorate rece...
 
 

Ingalls Shipbuilding awarded $23.5 million LHA 8 affordability contract

Huntington Ingalls Industries’ Ingalls Shipbuilding division has been awarded an affordability design contract for $23.5 million for early industry involvement to reduce the construction and life-cycle cost for the amphibious assault ship LHA 8. “Ingalls Shipbuilding has been constructing large-deck amphibious ships for nearly 50 years, and this contract will build on our company...
 
 
Marine Corps photograph

DOD identifies missing World War II Marine

Marine Corps photograph Marines wounded during the landing on Tarawa in November 1943 are towed out on rubber boats to larger vessels that will take them to base hospitals. The Department of Defense POW/Missing Personnel Office...
 




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>