RTTNews | Sep 24, 2020 07:51AM EDT

07:51 Thursday, September 24, 2020 (RTTNews.com) - Curtiss-Wright Corp. (CW), a manufacturer of precision components, and engineered products, said Thursday that it has agreed to acquire the stock of Pacific Star Communications, Inc. for $400 million in cash.

PacStar, a private company, is a provider of tactical communications solutions for battlefield network management, including commercial off-the-shelf or COTS-based rugged, small form factor communications systems, and its proprietary "IQ-Core Software" integrated network communications management software.

Founded in 2000, PacStar's solutions are utilized in mission-critical applications, combining tactical networking equipment and software to enable enhanced battlefield situational awareness.

"The acquisition of PacStar establishes Curtiss-Wright as a critical supplier of advanced tactical and enterprise network communications solutions supporting a broad spectrum of high-priority U.S. military force modernization programs," said David Adams, Chairman and CEO of Curtiss-Wright Corporation.

Curtiss-Wright said the acquired business will operate within its defense segment and is expected to generate sales of more than $120 million in 2020.

The company expects PacStar to be accretive to its adjusted earnings per share in its first full year of ownership, excluding first year purchase accounting costs.

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