BVR Systems to Acquire Blue Ridge Simulation, Inc. (BRS), a Leading US Supplier of High-Performance Radar Simulators
Wednesday February 22, 3:38 am ET
The Acquisition Enhances BVR's Leadership Position in the Embedded Training Market and Establishes a US Market Presence for BVR
ROSH HAAYIN, Israel, February 22 /PRNewswire-FirstCall/ -- BVR Systems (OTC: BVRSF.OB - News), a world leader in advanced defense training and simulation systems, today announced that it has signed a non-binding term sheet for the acquisition of 100% of the shares of the US-based corporation Blue Ridge Simulation, Inc. (BRS). BRS is a privately-held supplier of high-performance radar simulators for the Department of Defense, commercial and international training applications. In consideration, BVR will pay up to US $ 5,000,000 with the combination of issuing BVR's shares and pay cash amounts. The closing of the transaction is subject to due diligence review of BRS by BVR, the execution of definitive documentation and the receipt of customary third-party and regulatory approvals.
"The acquisition of BRS is a key milestone in BVR's strategy to establish its market presence in North America and for FMS markets". We believe we have found the perfect match for us" said BVR's Chairman Aviv Tzidon.
"The synergy and complementary assets between BVR and BRS enhance key aspects of market spread, customers and technology", explained Tzidon. "We feel that the most significant part of the merger is the synergy between the people and that the leadership of BRS will successfully lead our efforts in these markets"
BVR CEO Ilan Gillies added: "Merging these complementary assets will contribute considerably to BVR's leading position in the live and embedded training market. BRS' products will extend BVR capabilities in simulating advanced airborne, naval and civilian radars for both our virtual and live training systems. Our architectural synergy will enable us to provide our customers with more diversified solutions in a shorter time-to-market.
"We are very excited about working with BVR." said Thomas Allen, President of BRS. "This merger will allow us to extend our radar simulator product line to the growing embedded training sector, and to extend our offerings to expanded international markets."
About BVR Systems
BVR Systems is a world leader in advanced defense training and simulation systems. The Company offers highly-efficient, cost-effective solutions to the simulation, training and debriefing needs of modern air, sea and ground forces.
About Blue Ridge Simulation
Blue Ridge Simulation, Inc. (BRS) is a leading supplier of
high-performance radar simulators for Department of Defense, commercial and
international training applications: from basic weather radar simulators
<http://www.blueridgesimulation.com/WeatherRadar.htm> to high-performance
Digital Radar Landmass Simulators (DRLMS)
<http://www.blueridgesimulation.com/HighPerformanceRadar.htm> for
surveillance and fire control radar applications. BRS also supplies other
specialized PC-based devices to the simulation community including instructor
stations, <http://www.blueridgesimulation.com/IOS.htm> custom interface
systems, aural cue systems, < blueridgesimulation.com;
and custom embedded applications.
<http://www.blueridgesimulation.com/CustInt.htm>
For more information visit the Company's web site at
bvrsystems.com
biz.yahoo.com
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