Mercury Computer to buy KOR Electronics for $70M
Mercury Computer Systems Inc., which makes intelligence and reconnaissance electronics for military contractors, on Friday said it has agreed to buy KOR Electronics Inc., a maker of radar-jamming components, for $70 million in cash.
Mercury, based in Chelmsford, Mass., is also buying KOR subsidiary Paragon Dynamics Inc., which provides analytical services for U.S. intelligence agencies.
KOR is based in Cypress, Calif.
Mercury said it expects the deal to close before the end of the year and to add immediately to earnings, excluding non-cash amortization of intangible assets related to the deal.