Ultralife Buys SAIC's Tactical Communications Unit
NEWARK, N.J. (AP) ¿ Ultralife Corp. said Monday that it has acquired the tactical communications products business of Science Applications International Corp. for $5.7 million.
The SAIC business, which is located in Virginia Beach, Va., designs, develops and manufactures military communications equipment. Ultralife, which is a New Jersey-based power and communications company, said the company's products will be sold by Ultralife under the current products' brand name, AMTI.
Ultralife said it anticipates the acquisition will be accretive this year.
Shares of Ultralife rose 33 cents, or more than 4 percent, to $8.37 by midday trading following the announcement. SAIC was up 33 cents, or 1.9 percent, at $17.31.
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