Moog Inc. [MOG] recently said it has acquired Britain’s Tritech International for $33.3 million in cash boosting its marine product portfolio.
Tritech supplies equipment for the remotely operated vehicle and autonomous underwater vehicle markets and has customers in the defense, energy, marine, mining, law enforcement, and public safety and research markets. For defense applications Tritech makes sensors for mine countermeasures, obstacle avoidance, and seabed imaging.
Tritech had $19 million in sales during the last 12 months.
Moog said it expects Tritech to add $2 million in sales for the remainder of its fiscal year that ends in September and to add $20 million to sales in FY ’13. Moog expects the deal to be neutral to earnings through the end of FY ’13.