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Goodrich Acquires Cloud Cap Technology

The Associated Press

CHARLOTTE, N.C. (AP) — Goodrich Corp. said Friday it acquired privately held Cloud Cap Technology Inc., a provider of avionics for small unmanned aerial vehicles.

Terms of the deal were not disclosed.

Cloud Cap, which makes autopilot flight management systems and sensors, has 30 employees at its Hood River, Ore. facility.

"This acquisition provides Goodrich with an increased presence in the rapidly growing small military UAV market, and also expands our ability to offer complete ISR imaging solutions for these platforms," said Curtis Reusser, Segment President, Electronic Systems at Goodrich.

The company will be folded into Goodrich's ISR Systems business.

In afternoon trading, shares added 92 cents, or 2.1 percent, to $45.20.