Codan to acquire Herndon-based Domo Tactical Communications
Acquisition to be completed by end of April
Codan Ltd., an Australian manufacturer with its U.S. headquarters in Ashburn, has entered into an agreement to acquire 100% of the shares in Herndon-based Domo Tactical Communications from a private equity company. Subject to regulatory conditions typical of transactions of this nature, the acquisition is expected to be completed by April 30, Codan announced Tuesday.
Financial terms of the deal were not disclosed, but Australian news reports put the deal at about $88 million in U.S. dollars upfront, with a later payment of about $16 million if certain targets are met.
DTC is a commercially-off-the-shelf technology provider of high bandwidth wireless communications with capabilities in MIMO Mesh networks and next generation software defined radios that stream data across its self-forming and self-healing networks. DTC is a long-term supplier for more than 20 key U.S. government agencies, as well as the “Five Eyes” intelligence communities, including the military, special forces, border control, and first responders and broadcasters. DTC has locations in the United Kingdom and Denmark.
“The acquisition of DTC is consistent with Codan’s well-publicized strategic growth plan for our tactical communications business. This is focused on providing total voice, data and video communications solutions by transitioning from a traditional voice-only platform,” said Donald McGurk, Codan’s CEO, in a statement.
Codan is a global technology company that develops technology solutions to solve communication, safety, security and productivity problems in some of the harshest environments around the world.