Columbia's Integral Systems to buy CVG and Avtec subsidiary

March 05, 2010|By Baltimore Sun reporter

Integral Systems Inc. of Columbia announced Friday that it will pay $34.7 million to acquire CVG Inc. and its subsidiary, Avtec Systems Inc., both of Chantilly, Va., in an all-cash transaction.

Integral Systems provides technology solutions for satellite missions of the U. S. Department of Defense and others. CVG-Avtec provides satellite-based communications to government and commercial markets worldwide, including payload data processing, simulation and testing for military, intelligence, government and commercial programs. The acquisition is expected to help Integral expand its client base and product line. CVG-Avtec has about 100 employees, who will be retained in the purchase.

Concurrent with the acquisition, Integral has obtained a $55 million secured credit line with three banks. The acquisition will be financed with a combination of the company's existing cash and loans under the new line of credit.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.