Louis,
Yet another acquisition. Seems small, but does it seem to you like ORFR has a ton of cash laying around for its size?
HORSHAM, Pa., May 21 /PRNewswire/ -- ORBIT/FR, Inc. (Nasdaq: ORFR), announced today that it has acquired the main assets of Quantum Change/EMC Systems, Inc. ORBIT/FR will use this acquisition to establish a new division responsible for electromagnetic compatibility (EMC) systems. The terms and conditions of the transaction are immaterial, so will not be disclosed.
"Quantum Change/EMC Systems provides hardware-independent software
solutions to the EMC marketplace. The software is flexible and robust and enjoys a good reputation within the EMC community. This added capability will give ORBIT/FR the ability to bring its microwave test and measurement solutions into a growing multi-billion dollar EMC marketplace," stated Aryeh Trabelsi, President and CEO.
Michael J. Hart, founder of Quantum Change/EMC Systems, Inc. has
joined ORBIT/FR and is serving as the General Manager of the Quantum
Change/EMC Systems division.
From 1982 until 1993, Mr. Hart was the President and CEO of EMCO, an
Austin, Texas-based manufacturer of EMC test equipment and accessories. EMCO is now a subsidiary of ESCO Electronics Corporation (NYSE:ESE), St. Louis, Missouri.
"Mike's extensive experience and proven track record will add tremendous value to our team and will better allow us to offer cutting-edge solutions to our customers," stated Aryeh Trabelsi, President and CEO.
Grant |
