Goodrich buys security sensors

1 min read

Goodrich has entered into an agreement to acquire Sensors Unlimited for $60 million in cash, creating a business that is expected to generate 2005 sales of $19 million.

Goodrich Corporation

has entered into an agreement to acquire

Sensors Unlimited, Inc.

The $60 million cash transaction, which has been approved by the boards of directors of both companies, is expected to close in the fourth quarter of 2005. 2005 sales for the new business are expected to be $19 million.

Sensors Unlimited is a leader in Indium Gallium Arsenide (InGaAs) imaging technology -- which provides images in extremely low light conditions -- and has in-house manufacturing capabilities for advanced infrared cameras and short wave infrared and near infrared focal plane arrays.

Sensors Unlimited products have a presence in military; security; industrial; commercial; and telecommunications markets. Applications range from covert surveillance, night vision and health and safety protocols to historical art inspection.

According to a statement, these products align with existing Goodrich positions in intelligence, surveillance and reconnaissance systems and are expected to create opportunities for additional growth in new and emerging markets.

Marshall Larsen, Chairman, President and Chief Executive Officer of Goodrich, commented: "Short wave infrared sensors and near infrared imaging systems, created with indium gallium arsenide technology, will significantly strengthen our position in the high- growth markets for surveillance and reconnaissance systems as well as homeland security applications.

“Our laser perimeter awareness systems that support emerging homeland security needs may also incorporate short wave infrared technology to enhance their capabilities; thereby expanding the already broad portfolio of solutions we can offer to the marketplace."

With a 39,000-square-foot facility in Princeton, New Jersey and more than 50 employees in manufacturing and engineering roles, the new business will become part of Goodrich's Optical and Space Systems division.