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Herley Reaches Agreement To Acquire Reliable System Services
Lancaster PA (SPX) Aug 11, 2004 Herley Industries announced Tuesday it has reached an agreement in principle to acquire Reliable System Services Corporation (RSS), Melbourne, FL. The acquisition, which is subject to the execution of a formal written agreement and certain closing conditions, is expected to close in approximately thirty days. RSS has focused on satellite-based command & control systems for defense customers. The RSS Iridium-based command & control system provides secure (encryption, anti-spoof) global service coverage, allowing multiple target operations and is complementary with Herley's command & control systems. Lee N. Blatt, Herley Chairman, stated, "We look for acquisitions to provide us with people, location and products. RSS does that for us. This is a strategic fit for us in our efforts to expand our command & control systems for targets and unmanned aerial vehicles (UAV)." "We will be able to leverage this acquisition into new markets and sell to new customers. We acquired our 'Magic' line-of-sight command & control system in 1994 and have been able to sell that system successfully to customers worldwide." "The RSS system has been approved for multi-service use after years of design and development, performing successfully over the Atlantic Ocean Range from a command center based at Edwards Air Force Base in California." Blatt continued, "Florida is a very important base of business for us because it includes several key customers, including Harris and Lockheed Orlando. Herley will now have an operation in the 'neighborhood' which will help us grow our business in Florida. "Herley has worked together with Tony Perez-Falcon and Emilio Power at RSS for years. We believe the combination of Herley's resources with the skilled people and excellent products of RSS will allow us to significantly increase RSS's business," said Blatt. Related Links Herley Industries SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express
Steadicopter Completes New Unmanned Autonomous Helicopter
Tel Aviv, Israel (SPX) Aug 11, 2004Steadicopter has completed the development of an unmanned fully autonomous helicopter, operated without a human pilot. The helicopter performs fully autonomously, including all the aspects of the flight: takeoff, hovering, waypoints flight and landing while transmitting video images in real time. |
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