Mercury Computer Systems to buy Echotek Corp.
Mercury Computer Systems, Inc. announced it has inked an agreement to purchase Echotek Corp. for approximately $49 million. Based in Huntsville, Ala., Echotek is a market leader in the development of data acquisition products.
Echotek produces a market-leading portfolio of board-level products for analog-to-digital conversion (A/D), digital-to-analog conversion (D/A), high- performance input/output (I/O), and specialized digital signal processing known as digital receivers. This functionality is present in defense applications but is also a key component in commercial systems for medical scanners, large-scale physics experiments, and electronic test instrumentation.
"Echotek will extend our technology portfolio, and consistent with our growth strategy, enable us to address more opportunities in software radio and medical applications," said Jay Bertelli, president and chief executive officer, Mercury Computer Systems, Inc. in a release.
Echotek has shown past profitability. For the company's fiscal year ended December 31, 2004, revenue was approximately $16 million.
The purchase is expected to close in Q3 2005.