QinetiQ subsidiary Apogen Technologies has announced that it has signed an agreement to acquire San Diego-based Ocean Systems Engineering Corp (OSEC) for $53 million in cash. OSEC is a provider of research, design, development, and integration of advanced information technology systems to key defence agencies.
The acquisition is expected to close by the end of June 2006, pending US government approvals. OSEC is currently owned by its founder and majority shareholder, managers and staff.
Founded in 1990, OSEC provides software and engineering services to several US Department of Defense (DoD) customers including the Marine Corps Systems Command, with which it has a 10-year relationship, and the Space and
OSEC reported revenues of $48.2m, EBITDA of $4.8m and earnings of $2.7m in 2005. Upon regulatory approval, OSEC will become a wholly-owned subsidiary of Apogen Technologies.
‘Archaic rules’ torn up to green light new nuclear
Lack of data about windpower being cheaper than nuclear was, I felt, the question that you replied to. and as the context is energy security it would...