DRS Technologies Buys Night-Vision Business

DRS Technologies Inc. of Parsippany, N.J., has purchased certain assets and liabilities of Night Vision Equipment Co. (NVEC) of Allentown, Pa., for $42.5 million in cash, with added costs payable upon the realization of revenue targets. NVEC produces image-intensification night vision, uncooled thermal imaging, reflective combat identification and laser-based products for US and other military and paramilitary organizations.

The acquisition is expected to enhance DRS' position as a supplier of uncooled IR sensor and thermal imaging systems and to support its participation in defense at federal, state and local levels. Its products are used for surveillance, missile guidance systems, and ground, sea and air targeting.

NVEC, which has R&D and production facilities in Prescott Valley, Ariz., will be added to DRS' Surveillance and Reconnaissance Group.