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Business/Financial

Ultra Electronics Acquires Navy Contractor 3 Phoenix

By Cal Biesecker

Wednesday, February 19th, 2014

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Ultra Electronics Acquires Navy Contractor 3 Phoenix

Sonar solution by 3 Phoenix, Inc.

Britain’s Ultra Electronics Holdings plc said on Wednesday 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…

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