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GASTONIA, N.C., August 19, 2004. Curtiss-Wright Controls, Inc. announced today that it has signed a definitive purchase agreement to acquire the assets of Synergy Microsystems, Inc. for $49 million.
Curtiss-Wright Controls is the motion control segment of Curtiss-Wright Corporation. A leading developer of board-level solutions for real-time embedded applications, Synergy will operate as a business unit of Curtiss-Wright Controls, which is headquartered in North Carolina.
Synergy provides both rugged and benign embedded computing solutions for aerospace, defense, industrial, and medical applications. The company has forecasted annual sales of approximately $23 million and employs 110 people in San Diego, Calif. and Tucson, Ariz.
This marks the ninth recent acquisition for the company. In the past few years, Curtiss-Wright has also bought Collins Technologies, Dexter-Wilson, Dy 4 Systems, Novatronics, Peritek Corp., Primagraphics, Systran Corp., and Vista Controls.
"In addition to further strengthening our technology offering, Synergy provides significant content in benign defense & aerospace and industrial applications," said George J. Yohrling, president Curtiss-Wright Controls.
"Synergy also complements our current businesses by adding content on platforms currently supported by CW Controls as well as content on new platforms such as the Raytheon ITAS, MH-53 Upgrade, and the Trident Submarine."
"Recently, Curtiss-Wright Controls, reorganized into three new business groups in order to maximize product innovation and system integration. These three units -- Engineered Systems, Embedded Computing and Integrated Sensing -- combined the Curtiss-Wright Controls' family of companies into major industry segments which provide opportunities to cross-market products under one Curtiss-Wright brand. Synergy will operate as a business unit of the Embedded Computing group."
Synergy's customers include Northrop Grumman, Raytheon, Lockheed Martin, General Dynamics, United Defense, Boeing, SAIC, DRS and L3. Headquartered in San Diego, Synergy is known as an innovator in providing real time embedded computing solutions with excellent customer service in military, aerospace, commercial and industrial markets.
Headquartered in Gastonia, North Carolina, Curtiss-Wright Controls is the motion control segment of Curtiss-Wright Corporation (NYSE: CW, CW.B). With manufacturing facilities in Gastonia, Shelby and around the world, Curtiss-Wright Controls is a leading technology-based organization providing niche motion control products, subsystems and services internationally. For more information, see www.cwcontrols.com or www.curtisswright.com.
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