General Dynamics buys Kylmar Limited
Falls Church-based General Dynamics is expanding in Europe, acquiring sensor and surveillance systems maker Kylmar Limited.
General Dynamics did not disclose the value of the cash transaction which closed Tuesday. Kylmar Limited, based in England, has been privately held. The company and its approximately 50 employees will become part of subsidiary unit General Dynamics United Kingdom Limited.
Kylmar designs and manufactures sensor and optical surveillance systems used in harsh environments for long periods of time. The company’s products have been used by military intelligence and Special Forces in the United Kingdom for nearly two decades.
"I am delighted to welcome Kylmar to General Dynamics UK,” said Dr Sandy Wilson, General Dynamics UK's president and managing director. “Their capabilities will strengthen General Dynamics UK's offerings in a wide range of areas and will enable us to expand the breadth of products and services we provide to existing and new customers alike."
General Dynamics United Kingdom Limited was established in the UK over 48 years ago. It has 1,600 employees working in 10 facilities. It is a part of General Dynamics’ Information Systems and Technology division, the largest revenue producing unit of the company.
In the first quarter, Information Systems and Technology accounted for $2.75 billion of the company’s $7.75 billion of revenue. General Dynamics (NYSE: GD) earned $597 million, or $1.52 per diluted share, in the first quarter. Of that, Information Systems and Technology provided $290 million in operating income.
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