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Essex Buying Metrologic Unit

The price is $40 million.
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Essex (KEYW) - Get KEYW Holding Corporation 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.

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