3D-Radar acquired by Chemring

By GPR • May 9th, 2014

Chemring Group PLC (“Chemring” or “the Group”) announces that it has acquired the entire issued share capital of 3D-RADAR AS, a subsidiary of Curtiss-Wright Corporation, for a total cash consideration of $3.0 million (£1.8 million) (“the Acquisition”).

3D-Radar, based in Trondheim, Norway, is a leading developer of commercial three-dimensional (“3D”) ground penetrating radar (“GPR”) technology. 3D-Radar’s unique sensor technology delivers major advances in the ease of use, speed, accuracy and resolution for 3D imaging of underground structures.

3D-Radar’s patented GPR technology has already been successfully evaluated and deployed in a broad range of applications in a number of end markets, including sub-surface imaging in road and railway maintenance and airport runway inspection.

Under the terms of the Acquisition, the cash consideration of $3.0 million will be funded from existing cash resources.

Mark Papworth, Chief Executive Officer of Chemring, said:

“This small but strategically important acquisition consolidates Chemring’s position as a world leader in GPR technologies. 3D-Radar’s commercially available GPR technology expands our ground sensing and detection portfolio, ideally complementing NIITEK’s world leading military route clearance offerings and expertise. This technology will enable us to further develop our route clearance offerings and to exploit significant opportunities in the commercial sector.”

http://www.chemring.co.uk/media/press-releases/2014/2014-05-09.aspx

 

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