Tag: acquisition

FLIR to join Teledyne in big sensing acquisition

Teledyne Technologies will acquire FLIR Systems in a cash and stock transaction valued at $8 billion, both companies announced on Jan. 4.

Teledyne is a provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Its operations are primarily in the United States, Canada, the United Kingdom, and Western and Northern Europe.

Founded in 1978, FLIR is an industrial technology company focused on intelligent sensing solutions for defense and industrial applications.

Under the terms of the agreement, FLIR stockholders will receive $28 per share in cash and 0.0718 shares of Teledyne common stock for each FLIR share, which implies a total purchase price of $56.00 per FLIR share based on Teledyne’s five-day volume weighted average price as of December 31, 2020. The transaction reflects a 40% premium for FLIR stockholders based on FLIR’s 30-day volume weighted average price as of Dec. 31, 2020.

As part of the transaction, Teledyne has arranged a $4.5 billion 364-day credit commitment to fund the transaction and refinance certain existing debt. Teledyne expects to fund the transaction with permanent financing prior to closing. Net leverage at closing is expected to be approximately 4.0x adjusted pro forma EBITDA with leverage declining to less than 3.0x by the end of 2022.

Teledyne expects the acquisition to be immediately accretive to earnings, excluding transaction costs and intangible asset amortization, and accretive to GAAP earnings in the first full calendar year following the acquisition.

“At the core of both our companies is proprietary sensor technologies. Our business models are also similar: we each provide sensors, cameras and sensor systems to our customers. However, our technologies and products are uniquely complementary with minimal overlap, having imaging sensors based on different semiconductor technologies for different wavelengths,” said Robert Mehrabian, executive chairman of Teledyne. “For two decades, Teledyne has demonstrated its ability to compound earnings and cash flow consistently and predictably. Together with FLIR and an optimized capital structure, I am confident we shall continue delivering superior returns to our stockholders.”

“FLIR’s commitment to innovation spanning multiple sensing technologies has allowed our company to grow into the multi-billion-dollar company it is today,” said Earl Lewis, chairman of FLIR. “With our new partner’s platform of complementary technologies, we will be able to continue this trajectory, providing our employees, customers and stockholders even more exciting momentum for growth. Our board fully supports this transaction, which delivers immediate value and the opportunity to participate in the upside potential of the combined company.”

“We could not be more excited to join forces with Teledyne through this value-creating transaction. Together, we will offer a uniquely complementary end-to-end portfolio of sensory technologies for all key domains and applications across a well-balanced, global customer base,” said Jim Cannon, FLIR president and CEO. “We are pleased to be partnering with an organization that shares our focus on continuous innovation and operational excellence, and we look forward to working closely with the Teledyne team as we bring our two companies together to capitalize on the important opportunities ahead.”

Fourth-quarter financial results. In a separate press release issued today, Teledyne announced improved preliminary financial results for the fourth quarter and full year 2020. The Teledyne press release is available on www.teledyne.com. FLIR noted today that it expects to meet or exceed the full year fiscal 2020 guidance it provided on Oct. 30.

Approvals and timing. The transaction, which has been approved by the boards of directors of both companies, is expected to close in the middle of 2021 subject to the receipt of required regulatory approvals, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, approvals of Teledyne and FLIR stockholders and other customary closing conditions.

Advisors. Evercore is acting as exclusive financial advisor and McGuireWoods LLP is acting as legal advisor to Teledyne in connection with the transaction. Goldman Sachs & Co. LLC is acting as exclusive financial advisor and Hogan Lovells US LLP is acting as legal advisor to FLIR in connection with the transaction. Teledyne has entered into a 364-day senior unsecured bridge facility credit agreement with Bank of America as sole lead arranger and administrative agent.

Conference call and webcast. Teledyne and FLIR hosted a conference call to discuss the acquisition. A replay is available and will be available for one month.

January 5, 2021
FLIR Systems acquires Altavian for defense sUAS

Photo: FLIR Systems

FLIR Systems Inc. has acquired Altavian Inc., a privately held manufacturer of small unmanned aerial systems (sUAS) for defense and public-safety customers.

Altavian’s airframes integrate multiple sensors, including FLIR thermal technology, to provide users with decision support and intelligence, surveillance and reconnaissance (ISR) capability.

Based in Gainesville, Florida and founded in 2011, Altavian designs and manufacturers Group 1 UAS solutions for long or short range operations. With both quadcopter and fixed-wing UAS designs, Altavian’s expertise includes aeronautics, avionics, and software, and its solutions are engineered around an open system architecture aligned to the needs of government and defense customers.

Altavian is one of five drone manufacturers approved by the U.S. Department of Defense under the Blue sUAS program to sell to the U.S. military and federal agencies.

“Altavian’s proven engineering expertise and assets will allow us to offer customers the most comprehensive solution portfolio of any American sUAS provider,” said Roger Wells, general manager of the Unmanned Systems and Integrated Solutions business of FLIR Systems’ Defense Technologies Segment, under which Altavian will be integrated. “With the addition of both a low-cost, rapidly deployable quadcopter and a longer range fixed-wing UAS, FLIR is strengthening its already impressive drone lineup, including our Black Hornet and SkyRaider platforms used extensively by militaries around the globe. We’re excited about the multiple new franchise opportunities FLIR will be able to pursue for defense, public safety, and industrial markets worldwide.”

For more information about FLIR Systems’ existing sUAS solutions, visit flir.com/defense-uas.

December 3, 2020
Via acquires Fleetonomy for logistics and delivery technology

Photo: Scharfsinn86/iStock / Getty Images Plus/Getty Images

Via, a provider of digital infrastructure for public mobility systems, has acquired Fleetonomy, a developer of fleet management software.

Fleetonomy was founded in 2017 by CEO Israel Duanis and CTO Lior Gerenstein, with the vision of building the next generation of fleet management and optimization platforms, suitable for the challenges and opportunities that came with the shift to fleet-based on-demand services.

According to Via, the purchase accelerates its expansion beyond public transit and strengthens its ability to meet increasing global demand for efficient, flexible solutions for logistics and delivery.

Via’s technology is currently used in more than 150 cities and transit operators across the globe to power intelligent transit and delivery platforms, Via said. The need for essential transit and goods delivery has continued to grow during the COVID-19 pandemic, and Via plans to apply Fleetonomy’s technology and expertise in demand prediction and fleet utilization to advance its digitally-powered logistics solutions.

“As we continue to build the next generation of public transportation and delivery infrastructure, we are proud to partner with Fleetonomy to step into this new phase of growth,” said Via Co-Founders Daniel Ramot and Oren Shoval. “We have been consistently impressed by Israel, Lior and the entire Fleetonomy team, and by the beautifully-designed and exceptionally-engineered products they have created. We share a vision for the future of mobility and look forward to realizing this vision together.”

October 2, 2020
Esri acquires nFrames for 3D capabilities

Esri has acquired nFrames, a technology company that develops SURE, an imagery and lidar 3D surface reconstruction software.

According to Esri, this will enable the fusion of imagery with 3D GIS, allowing nFrames and Esri users to seamlessly capture and analyze 3D data from aerial, drone and ground-based sensors in an automated end-to-end process.

SURE scales 3D data creation to large city and countrywide airborne image datasets and projects. According to nFrames, it gives professional photogrammetry workflows improved precision, speed and simplicity on premises or in the cloud. SURE can be used for a number of industries, including those in government; national mapping; insurance; and architecture, engineering, and construction (AEC).

Through this acquisition, Esri gains a robust production engine that transforms imagery and lidar data into point clouds, phototextured 3D meshes and true orthos, Esri said.

SURE software editor (Screenshot: nFrames)

In addition, SURE allows its users to generate 3D maps at scales from individual construction sites to entire cities and countries. These maps are fully automated at high resolution and repetition rates, nFrames added.

“nFrames is a leading provider of 3D image reconstruction software and services, and I am excited to welcome the company to the Esri family,” said Jack Dangermond, Esri founder and president. “As Esri continues down its path of innovation to create a multidimensional experience, this acquisition enhances our ability to create extremely high-quality 3D data from imagery, which is critical for our customers in the municipal, planning and AEC industries.”

SURE software will become a part of Esri’s ArcGIS platform. According to Esri, it will make SURE capabilities available in ArcGIS Drone2Map and Site Scan for ArcGIS so users can create better meshes, point clouds and true orthos from their drone imagery.

“Together with Esri, we will be able to unlock the full value of 3D surface data through GIS by connecting geometry with metainformation to provide spatial context,” said Konrad Wenzel, CEO and co-founder of nFrames. “This fully automatic chain from data capture to analytics will enable smarter decision-making.”

The nFrames headquarters will now serve as a new Esri research and development center based in Stuttgart, Germany.

September 14, 2020
Tallysman Wireless acquired by Calian Group

Effective Sept. 1, Tallysman Wireless Inc. was acquired by Calian Group Ltd. to expand Calian’s reach in the satcom industry to markets requiring smaller antennas used in end-user devices that need a different range of fidelities, according to Patrick Thera, president, Advanced Technologies, Calian.

Calian is a publicly owned Canadian company listed on the Toronto Stock exchange. Its solutions include satellite gateways and infrastructure for RF communications, telemetry, tracking and control systems, space science and earth observation. Calian also provides leading-edge communication products for terrestrial and satellite networks.

Based in Ontario, Canada, Tallysman designs, manufactures and sells a wide range of GNSS, Iridium and Globalstar antennas and related products into a market with a broad range of vertical applications that include precision reference systems, survey, timing, precision agriculture, unmanned and autonomous vehicles, marine and more. The company also produces cloud-based wireless tracking systems over two-way radio systems and 4G category M cellular systems, for applications ranging from school buses to municipal public works.

Development of Tallyman’s VeroStar antenna is the topic of the September issue’s Innovation column.

FIGURE 2 . (a) VeroStar antenna element; (b) VeroStar antenna current distribution. (Images: Tallysman)

The company is widely recognized as a technology leader and is the supplier of high-precision antennas to precision GNNS systems providers. Under the Calian umbrella, Tallysman will continue to operate as it has been, with no changes in product availability, fulfilment, support, management or engineering services.

Tallysman will also continue to invest in research and development, and bring new and innovative GNSS products to the market, the company said.

The definitive agreement is valued at up $24.5 million. Amount paid on closing is $15.7 million (net of cash received) and contains two earnout periods of $4M and $4.8M based on the achievement of a certain level of EBITDA performance over the next 30 months. Tallysman’s results will be consolidated and reported with Calian’s Advance Technology segment.

“This important acquisition supports both customer diversification and service line innovation, two key pillars within our four-pillar growth strategy,” stated Kevin Ford, Calian president and CEO. “The Tallysman acquisition demonstrates Calian continued our focus on innovation and growth. The wide range of products and applications Tallysman brings to Calian expands our product line and entry into new markets. We are excited with the opportunity to support innovation in exciting growth industries such as autonomous vehicles, precision agriculture and wearables. We could not be more pleased to welcome Tallysman to the Calian team.”

Sampford Advisors acted as exclusive M&A advisor to Tallysman.

“We are extremely pleased to join the Calian team,” said Gyles Panther, Tallysman president and CTO states. “We look forward to continuing, profitable growth of our core GNSS businesses with products that we sell to a broad customer base. As a member of the Calian family, we also look forward to leveraging additional resources, new technologies and markets deriving from Calian’s deep expertise in satellite communications.”

“Calian welcomes Tallysman to our team,” Thera said. “The Tallysman product line and services add a complementary component to our ground-based satellite communications business. GNSS is one of the fastest growing markets for satellite ground systems and we are excited to join forces with a leader in this field.”

September 8, 2020
Hexagon acquires Tacticaware for 3D security surveillance capabilities

Hexagon AB has acquired Tacticaware, which provides lidar-based 3D surveillance software to monitor and protect critical infrastructure and buildings.

Tacticaware’s flagship solution, Accur8vision, is a volumetric detection security system offering 3D surveillance. Unlike conventional systems that typically only monitor perimeters, Accur8vision delivers situational awareness of an intruder’s exact location, size, speed and movement trajectory — all of which can be visualized within a 3D digital reality of the area under surveillance, Tacticaware said.

“Hexagon has long been a leader in sensor and 3D visualization technology,” said Hexagon President and CEO Ola Rollén. “Our award-winning 3D surveillance solution, Leica BLK247, fuses lidar, video and thermal imaging with edge computing and intelligent algorithms to instantly detect and report physical changes within an environment. Together with the BLK247 and HxGN OnCall, our comprehensive portfolio of next-generation public safety solutions, Hexagon can now offer those working to make our world a safer place a fully integrated end-to-end security surveillance solution for 24-hour, full visibility of critical infrastructure and spaces to call-taking, dispatch, incident planning and response and more.”

August 7, 2020
BAE Systems acquires Collins Aerospace military GPS business

BAE Systems has completed the $1.9 billion acquisition of Collins Aerospace‘s military GPS business from Raytheon Technologies Corp. BAE also purchased Raytheon’s airborne tactical radio business for $275 million.

In January, BAE Systems announced its intent to buy the Collins Aerospace Military GPS division. In April, Raytheon finalized its merger with United Technologies Corp. (UTC) to officially form Raytheon Technologies Corp. The U.S. Department of Justice approved the Raytheon/UTC merger in March, but only on the condition the companies divest UTC’s military GPS and large space-based optical systems businesses, as well as Raytheon’s military airborne radios business.

Collins Aerospace’s military GPS business will be integrated into BAE Systems’ Electronic Systems sector.

“This partnership will enable us to build on our market leadership and bring new discriminating capabilities to our customers, including the U.S. Department of Defense and its allies,” said Greg Wild, director of Military GPS. “We’re excited to be joining the BAE Systems family. They appreciate our legacy of innovation and will provide opportunities for continued business growth and success.”

Based in Cedar Rapids and Coralville, Iowa, the military GPS business has a workforce of approximately 700 employees. The business designs and produces advanced, hardened and secure GPS products with a range of form factors, including products designed for space-constrained and harsh environments.

August 5, 2020
Fibocom to acquire Sierra Wireless automotive module product line

Fibocom, a global provider of internet of things (IoT) wireless solution and wireless communication modules, has reached an agreement with three investment institutions to acquire the automotive embedded module product line of Sierra Wireless through its joint venture company.

The funds will be used to acquire the automotive embedded module assets of Sierra Wireless through Rolling Wireless (H.K) Ltd., the subsidiary of Rolling Wireless Technology Co., Ltd. After the acquisition, the joint venture company Rolling Wireless (H.K.) Limited will operate the global automotive embedded module business independently.

Fibocom signed an agreement with three professional investment institutions — Shenzhen Capital Group Co., Ltd., Shenzhen Jianxin Huaxun Equity Fund Management Co., and Shenzhen Qianhai Red Earth M&A Fund Partnership (Limited Partnership) — planning to jointly increase investment in Rolling Wireless Technology Co., Limited, a joint venture company invested in by the four parties.

According to a Fibocom press release, “As an important milestone in Fibocom’s globalization, this strategic move will strengthen Fibocom’s industrial advantage in the IoT sector and will help to further enhance its global market share in the automotive embedded module business.”

“We have been dedicated to providing high-speed, stable and reliable embedded wireless modules to the IoT industry for more than twenty-one years,” said Zhang Tianyu, chairman of Fibocom. “The acquiring will allow us to dive deeper into the automotive vertical industry and continue to provide more market-oriented high-performance embedded wireless modules and total IoV solutions for global customers in the automotive industry.”

July 28, 2020
Bentley Systems acquires voice-based field automation provider

Bentley Systems has acquired NoteVault, a voice-based field automation provider for construction management. This acquisition expands Bentley’s Synchro digital construction environment with mobile field applications to track and manage labor, materials and equipment.

According to Bentley Systems, these comprehensive offerings further extend the value of digital twins across construction management, enabling projects to combine immersive 4D models of the construction progress with detailed up-to-date reports on resource expenditures.

NoteVault’s SaaS solution is deployed via mobile devices, offering natural language automated speech-to-text, augmented with automated machine learning, and human transcription to ensure accuracy. Because NoteVault has been engineered specifically for construction site mobile field reporting, it recognizes construction-specific language for accurate transcription, and enables automated translation so non-native English speakers can submit daily reports more easily using their native language.

With NoteVault on their mobile devices, construction professionals can help synchronize status reporting effortlessly while saving time and money, reducing the risk of contractual disputes, Bentley Systems added.

“Digital twins continue to transform the way projects are delivered and operated,” said Dustin Parkman, vice president, project delivery, Bentley Systems. “Inherent in every digital twin is a stream of continuously updated data, and for construction, automating the semantic interpretation of field reports can now be one of the richest sources of live project information. With the addition of NoteVault’s market-leading resource tracking capabilities, the Synchro 4D construction environment delivers the most comprehensive construction digital twin solution available. We are excited to continue advancing the scope of construction digital twins.”

June 4, 2020
Big acquisition: Qorvo to acquire location company Decawave
Qorvo, a provider of RF solutions, is acquiring Decawave, as well as Custom MMIC. Financial details have not been disclosed.

“This acquisition is by far the biggest in the indoor location industry,” according to Bruce Krulwich, founder of Grizzly Analytics. “While the price is not disclosed, I and others have estimated it at $400-500 million.”

“Apple is using their own UWB chips in upcoming iPhones, but their own chips are too big and use too much power to be used in smartwatches or other small devices,” Krulwich said. “Decawave’s chips will enable Qurvo to sell compatible UWB chips to a much wider range of markets.Apple’s use of UWB in iPhones is the tipping point for UWB. With Apple’s stamp of approval, UWB will be incorporated into a wide range of location-aware electronics, including robots, drones, wearables, smartwatches and more.”

“The biggest implications for this acquisition are not only in the RTLS market, but also in the areas of internet of things, wearables and location-aware electronics,” Krulwich said. “UWB is being used in next-generation products like drones by Intel, robots by iRobot, and autonomous vehicle movement by Segway.”

Bob Bruggeworth, president and chief executive officer of Qorvo, said in a third-quarter financial release that the company was “looking forward to welcoming two industry-leading teams, Decawave and Custom MMIC, to the Qorvo family, expanding our technology portfolio and product offerings.”

Decawave is an Irish fabless semiconductor company specializing in precise location and connectivity applications. The acquisition will advance market penetration of IR-UWB and enable broad global adoption of the technology.

Decawave was founded in Dublin in 2007 by current CEO Ciaran Connell and CTO Michael McLaughlin. The co-founders had a vision that the new IR-UWB technology, based on a nascent IEEE standard, could deliver ultra-accurate location in a way that would revolutionize people’s lives like GPS did in the 1990s.

Twelve years later, IR-UWB is on the verge of becoming the next essential component technology, like GPS, Wi-Fi and Bluetooth before it. Already shipping in millions of smartphones and cars, and across more than 40 other verticals, IR-UWB is enabling accurate indoor location services, secure communications, context aware user interfaces and advanced analytics.

“We are thrilled to announce the acquisition of Decawave by Qorvo,” said co-founder and CEO Ciaran Connell. “We have created an incredibly unique technology, but we understand that to embrace the opportunity in front of us, we will need greater resources to execute at scale, accelerate our innovation and product launches and to continue to support our growing customer base with the same level of service.

“Joining forces with Qorvo’s leading expertise in RF technology, their experience in serving very high-volume markets like Mobile but also the thousands of customers in Industrial and Enterprise, is, for Decawave, a perfect combination to scale and further accelerate the adoption of IR-UWB.”

Eric Creviston, President of Qorvo Mobile Products, said, “We’re very pleased to welcome the Decawave team, which we believe will enhance Qorvo’s product and technology leadership while expanding new opportunities in mobile, automotive and IoT. We look forward to building on the groundbreaking work that Decawave has done and helping to drive new applications and businesses using their unique UWB capability.”

Decawave co-founder Michael McLaughlin added, “From proving a new technology, to building new markets and to today joining a Tier 1 semiconductor company, the past 12 years have been a challenging and fantastic journey.

“None of this would have been possible without the dedication and passion of Decawave employees as well as the constant support from our lead investor Atlantic Bridge, Act Venture Capital, Summit Bridge, Enterprise Ireland and our business angels. To all others who accompanied us on this journey we also say a sincere and profound thank you and we look forward to the next chapter for IR-UWB.”

In the coming months and years Decawave and Qorvo will:
- Continue to contribute to the IEEE, Car Connectivity Consortium, FiRa and UWB alliance to define next-generation PHYs and protocols, ensuring interoperability across applications and fueling IR-UWB adoption,
- Accelerate the roadmap of ICs and modules, leveraging their respective R&D strengths and product portfolio to bring even more IR-UWB solutions to the market,
- Pursue existing partnerships and investments in enablement to offer flexible and easy to integrate IR-UWB solutions to our customers.
January 31, 2020
BAE Systems to get Collins GPS and Raytheon ATR businesses

BAE Systems Inc. has reached definitive agreements for the proposed acquisitions of Collins Aerospace’s military GPS business and Raytheon’s Airborne Tactical Radios (ATR) business.

The two high-performing businesses are being sold in connection with obtaining the required antitrust clearances for the previously announced pending merger between Raytheon and United Technologies Corporation (UTC).

The proposed acquisitions are structured as asset transactions with associated tax benefits, and they remain subject to customary closing adjustments. The asset purchase agreement for the Collins military GPS business calls for cash of $1.925 billion, with an expected tax benefit of approximately $365 million. For Raytheon’s ATR business, the purchase agreement calls for cash of $275 million, with an expected tax benefit of approximately $50 million.

“As militaries around the world increasingly operate in contested environments, the industry-leading, battle-tested products of these two businesses will complement and extend our existing portfolio of solutions we offer our customers,” said Jerry DeMuro, CEO of BAE Systems, Inc. “This unique opportunity to acquire critical radio and GPS capabilities strengthens our position as a leading provider of defense electronics and communications systems, and further supports our alignment with the modernization priorities of the U.S. military and its partners.”

These proposed acquisitions are subject to the successful closure of the Raytheon-UTC transaction, as well as the satisfaction of other customary closing conditions, including receipt of the required U.S. regulatory approvals. Upon closure, both business lines would be integrated into the company’s Electronic Systems sector.

“These are strong businesses with talented employees who share our focus on quality and technology innovation,” said Tom Arseneault, president and COO of BAE Systems Inc. “We are confident of a smooth transition that will accelerate our future together and look forward to welcoming these new employees to the BAE Systems team once the transactions are approved.”

Collins’ Military GPS Business

Based in Cedar Rapids, Iowa, Collins’ military GPS business is a longstanding provider of mission critical military GPS receiver solutions and has been a pioneer in military GPS receiver markets for over 40 years. Today, it designs and produces advanced, hardened and secure GPS products to include M-Code, anti-jamming, and anti-spoofing technologies. The business has an installed base of over 1.5 million devices on approximately 280 platform types around the world, including ground, airborne, and weapon systems.

Given the requirement for ubiquitous, secure geo-positioning in contested battlefields, this technology offering will continue to be critical to the U.S. military and partners worldwide. For example, the business is currently developing the next generation of M-Code GPS technologies for the U.S. military, which will advance our collective position to address the priority growth area of precision guided munitions.

Raytheon’s Airborne Tactical Radios Business

Raytheon’s ATR business is a leading provider of airborne tactical radio solutions. Based in Fort Wayne, Indiana, and Largo, Florida, the ATR business designs, manufactures, and supplies a wide array of mission-critical communication systems to the U.S. Department of Defense, allied governments, and large defense aircraft manufacturers. The business has leveraged its innovative technologies to develop secure communications solutions that are installed on a broad range of military airborne platforms.

Coupled with the Electronic Systems sector of BAE Systems, Inc., Raytheon’s ATR business will enhance our positions in airborne communications with broad spectrum, multi-band, multi-channel radios including battle proven, robust, anti-jam, and encryption capabilities. The ATR business brings both complementary waveform expertise and a long trusted partnership with the U.S. Army.

These businesses will be excellent strategic fits with the strong BAE Systems Electronic Systems sector, and our combined capabilities will benefit our customers and all of our stakeholders.

January 24, 2020
Centauri acquires Design Knowledge and PreTalen companies

Centauri, a provider of high-end space, intelligence, directed energy and cyber solutions, has acquired The Design Knowledge Co. (TDKC) and PreTalen Ltd.

TDKC has proven capabilities in microelectronics trust and assurance, space domain awareness, and advanced visualization for enhanced situational awareness. PreTalen’s core competencies are the related practices of cyber warfare, navigational warfare, and positioning, navigation and timing (PNT) techniques and technologies in support of defense and offensive operations to counter adversaries.

Both companies are headquartered in Dayton, Ohio.

The acquisitions more than double the number of Centauri employees in the region to more than 300, supporting customers across the space, cyber and intelligence markets.

In addition, to bringing TDKC and PreTalen’s capabilities to bear for Centauri’s broader customer base, Centauri is building additional research and development labs, and secure facilities in the Dayton region to expand innovation and cutting-edge solutions for Centauri’s customers.

“Both TDKC and PreTalen have exceptional talent and share a common culture of innovation in pioneering new capabilities for the warfighter” said Dave Dzaran, CEO of Centauri. “With TDKC, we are building world-class capability to help ensure trusted microelectronics in the supply chains for the defense and intelligence communities. Their expertise in space domain awareness brings additional AI and machine learning technology to further strengthen Centauri’s existing space-related mission capabilities focused on the next generation of solutions that will serve this rapidly-evolving domain.”

“Similarly to TDKC, PreTalen’s unique skill sets relating to all aspects of the PNT architecture serve as a true differentiator on their programs,” said Dennis Kelly, president and COO of Centauri. “PreTalen has built a critical mass of the most innovative employees in both PNT and cyber, and we are excited to facilitate collaboration not only with our Dayton operations but also across the rest of our company.”

Greg Gerten, CEO of PreTalen, and Dan Schiavone and Eric Loomis, founders of TDKC, as well as both of their leadership teams, including Bruce Hart, will become a part of Centauri’s growing operations in the region.

This investment in the Dayton region comes on the heels of Centauri’s hiring of Col. Elena Oberg, former vice commander of the Air Force Research Laboratory, headquartered just outside Dayton at Wright-Patterson Air Force Base.

With the addition of TDKC and PreTalen, Centauri now has more than $475 million of annual revenues and 1,650 employees, approximately 20% of which support customers located in the Dayton market.

“I speak for all of PreTalen when I say that we are extremely excited to be joining forces with Centauri,” Gerten said. “Our team is eager to apply our core capabilities to the space and Intelligence communities, and we look forward to replicating our past success for an ever-increasing number of customers. Furthermore, Centauri’s focus on innovation meshes well with what we’ve spent 12 years building here at PreTalen, and I’m thrilled to continue our journey with their support.”

December 10, 2019