M&A Deal Summary

Ultra Electronics Acquires Raytheon - Sonobuoy Business

On December 22, 1998, Ultra Electronics acquired defense company Raytheon - Sonobuoy Business from Raytheon for 22M USD

Acquisition Highlights
  • This is Ultra Electronics’ 1st transaction in the Defense sector.
  • This is Ultra Electronics’ 16th largest (disclosed) transaction.
  • This is Ultra Electronics’ 3rd transaction in the United States.
  • This is Ultra Electronics’ 1st transaction in Massachusetts.

M&A Deal Summary

Date 1998-12-22
Target Raytheon - Sonobuoy Business
Sector Defense
Buyer(s) Ultra Electronics
Sellers(s) Raytheon
Deal Type Divestiture
Deal Value 22M USD

Target

Raytheon - Sonobuoy Business

Waltham, Massachusetts, United States
Raytheon - Sonobuoy Business engages in design and production of anti-submarine warfare (“ASW”) sensors, primarily sonobuoys. Its product offering includes sonobuoys used by the US Navy and most of the world’s ASW defence forces. In addition to sonobuoy production, the Company designs and produces multimode hydrophones and other advanced sensors and is under contract to the US Navy to provide ASW engineering services on selected programmes.

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Buyer(S) 1

Buyer

Ultra Electronics

London, United Kingdom

Category Company
Founded 1993
Sector Electronics
Employees4,253
Revenue 860M GBP (2020)
DESCRIPTION

Ultra Electronics is a provider of specialist capabilities, generating highly-differentiated solutions and products in the defense & aerospace, security & cyber, transport and energy markets, by applying electronic and software technologies in demanding and critical environments to meet customer needs. Ultra Electronics Holdings was founded in 1993 and is based in London, the United Kingdom.


DEAL STATS #
Overall 3 of 38
Sector (Defense) 1 of 2
Type (Divestiture) 1 of 9
State (Massachusetts) 1 of 3
Country (United States) 3 of 18
Year (1998) 1 of 1
Size (of disclosed) 16 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-05-16 EMS Development

Long Island, New York, United States

EMS Development Corp. specialises in the design and manufacture of shipborne degaussing (magnetic silencing) systems. It is recognised as a market leader in the supply of on-board systems which reduce the magnetic field of all types of naval vessels, thus helping to protect the vessels from the threat of magnetically activated underwater mines.

Buy $2M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-04-14 The DF Group

Preston, United Kingdom

The DF Group has two operating subsidiaries Datel Defence Limited and Ferranti Air Systems Limited specialises in software development and management for military projects, system integration services, secure communication networks and internet based shared data environments.

Buy £44M

Seller(S) 1

SELLER

Raytheon

Waltham, Massachusetts, United States

Category Company
Founded 1922
Sector Defense
Employees61,000
Revenue 27.1B USD (2018)
DESCRIPTION
Raytheon office in Burlington, Massachusetts.
Raytheon office in Burlington, Massachusetts.

Raytheon Company is a technology and innovation leader specializing in defense, security and civil markets throughout the world. Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems; as well as a broad range of mission support services. Raytheon was established in 1922 and is based in Waltham, Massachusetts.


DEAL STATS #
Overall 5 of 9
Sector (Defense) 1 of 1
Type (Divestiture) 5 of 9
State (Massachusetts) 2 of 3
Country (United States) 5 of 9
Year (1998) 2 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-02-01 Alliance Laundry Systems

Ripon, Wisconsin, United States

Alliance Laundry Systems is a manufacturer of stand-alone commercial laundry equipment in North America. Alliance Laundry produces a full line of washing machines, dryers, and pressing machines under the brand names of Speed Queen, UniMac, Huebsch and Ajax.

Sell $358M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-03-27 Raytheon Solipsys

Fulton, Maryland, United States

Raytheon Solipsys, a wholly-owned subsidiary of the Raytheon Company, is an industry leader in the development of integrated Command and Control (C2) Network-Centric solutions for the Domestic and International DoD and Homeland Security. Through proven systems and software engineering practices, built on the invention and application of innovative technologies, we deliver the C2 infrastructure necessary to effectively control security/military forces in any environment. Our reliable solutions assure information superiority, increased shared awareness, deep sensor reach, aircraft control, air defense, disaster management, and time-critical decision making.

Buy -