Aerospace Group:

Ultra Electronics Acquires Navy Contractor 3 Phoenix

Defense Daily Staff

Friday, February 21st, 2014

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Britain’s Ultra Electronics Holdings plc said Feb. 19 that has acquired 3 Phoenix Inc. (3Pi) for $70 million in cash, expanding its presence in the United States and in tactical and sonar systems. Terms of the deal include up to $17 million in additional payments by Ultra based on 3Pi’s earnings growth during the next three years. 3Pi, which is based in Northern Virginia, is a supplier of specialist sonar, radar, intelligence, surveillance and reconnaissance products and processing systems, primarily to the…

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