Essex Buying Metrologic Unit
The price is $40 million.
Essex (KEYW) - Get Report agreed to buy Adaptic Optics Associates from Metrologic (MTLG) for $40 million in cash.
Columbia, Md.-based Essex called AOA "an established leader in the design, production, installation, and support of high-performance electro-optic products and systems." It has 175 workers and posted $36 million in 2006 pro forma revenue, of which 85% is from government customers.
Blackwood, N.J.-based Metrologic said it expects the deal to close Oct. 1.
The pact comes just a week after Metrologic agreed to go private.
