San Diego-based General Atomics announced Thursday it is purchasing a small Alabama company with expertise in hypersonic vehicles for $14.6 million in cash.
Miltec Corp, based in the defense center of Huntsville, AL, has expertise in the areas of hypersonic vehicles, small satellites and related products and programs.
The company is a unit of Ducommun, a publicly traded defense company, and had sales of $28.2 million in 2015. It will become part of General Atomics’ Electromagnetic Systems group.
“We are excited about the opportunities that this acquisition holds for General Atomics’ future,” said Scott Forney, president of the group.
The acquisition provides General Atomics with a greater presence in Huntsville, a key center of U.S. space and defense technology. “The integration of these two highly complementary businesses enables GA to strengthen existing relationships and build new ones, and it highlights GA’s commitment to delivering the most advanced solutions to meet customer needs,”said Forney.
