Ducommun Inc. [DCO] on Monday said it has completed the sale of its Miltec subsidiary to General Atomics (GA) for $14.6 million, a deal that GA said will accelerate its knowledge in key technical areas of hypersonic vehicles, small satellites and related products and programs.
The deal was first announced in February. The acquisition also gives GA an established presence in Huntsville, Ala., home to a number of United States space and defense activities.
Miltec provides engineering, technical and program management services to agencies in the Defense Department and intelligence community for advance weapons systems and military defense systems.
Ducommun plans to use the sale proceeds to reduce debt.