Company makes positioning acquisition
A
Moog product story
Edited by the Engineeringtalk editorial team
Sep 17, 2007
QuickSet's products are used to position surveillance cameras, thermal imagers, sensors and communication antennae.
Moog has acquired QuickSet International, a manufacturer of positioning systems and pan and tilt mechanisms.
The products are used to position surveillance cameras, thermal imagers, sensors and communication antennae.
They are used in the positioning of surveillance cameras for securing national borders, commercial ports, strategic missile silos, military airbases and commercial airports.
Moog paid US $41 million in cash, which will be funded from committed bank credit facilities.
QuickSet is expected to add US $32 million to Moog's sales in the 2008 fiscal year.
As a result of first-year purchase accounting adjustments and related financing costs the company expects the acquisition will not have a significant impact on the forecasted 2008 fiscal year earnings per share.
The acquisition will be reported as part of the space and defence segment.
"QuickSet operates in a market which is ideal for the application of Moog's precision motion control capability", according to RT Brady, Chairman and CEO.
"Technology synergies between QuickSet and Moog will increase as applications become more demanding in terms of precision pointing and systems integration".
"We expect that the QuickSet product position and customer contacts will greatly accelerate our business development in the homeland security market".
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