Wyle Inc., yesterday said it has completed its purchase of the CAS, Inc., division of ITT Corp. [ITT] for $235 million in cash, expanding its presence in Huntsville, Ala., and with the Army.
“CAS will significantly enhance and diversify our core business with critical customers and markets such as the U.S. Army and Huntsville,” George Melton, Wyle chairman, president and CEO, said in a statement. “We trust CAS will excel as part of a dedicated government services company.”
CAS, which is based in Huntsville, provides systems engineering and technical assistance services to the Defense Department. With the acquisition, the Army and Navy are Wyle’s largest customers.
CAS has more than 1,100 employees in 26 locations worldwide. CAS join’s Wyle’s Aerospace Group, Integrated Science and Engineering Group, and Information Systems Group, which all combined are expected to have more than $1 billion in pro-forma sales this year.