GD Completes Acquisition of Fortress TechnologiesFalls Church, Va. - General Dynamics (NYSE: GD) completed its previously announced purchase of Fortress Technologies, Inc. on July 22, 2011.Fortress Technologies is a provider of secure wireless networking equipment for the U.S. military and other government customers. The value of the cash transaction, which is expected to be accretive to General Dynamics' earnings beginning in 2012, has not been disclosed.
Fortress Technologies produces a portfolio of mesh networking products that enable secure wireless network capabilities for battlefield logistics, convoy, command post and soldier applications. Built on commercially available technologies, Fortress Technologies' ruggedized products improve soldiers' combat effectiveness and survivability by increasing their access to information. The company is based in Westford, Mass., and has approximately 70 employees.
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Fortress Technologies will be managed by General Dynamics C4 Systems, which is based in Scottsdale, Ariz. General Dynamics C4 Systems designs, manufactures and delivers trusted and secure communications systems, command and control systems and operational hardware to customers within the U.S. Department of Defense, the intelligence community and federal civilian agencies, and to international customers.
"The acquisition of Fortress accelerates our ability to deliver a wider array of secure, Wi-Fi-based tactical wireless communication systems for military and government users worldwide," said Chris Marzilli, president of General Dynamics C4 Systems. "These competitively priced products, based on commercial offerings, deliver unprecedented efficiencies in size, weight and power for users from the core to the very edge of the network."
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Source : General Dynamics Corporation (NYSE: GD)
Jun 29 - Jul 1, 2015 - London, United Kingdom