Electro Optic Systems Holdings (ASX:EOS) acquires US space communications business

Electro Optic Systems Holdings (ASX:EOS) has executed an agreement to acquire all of the business and assets of Audacy Corporation, a space communications company based in the US.

Acting through its wholly-owned US subsidiary EOS Defense Systems USA, EOSDS will outlay approximately $10 million in cash for the Acquisition including costs associated with securing mandatory US government spectrum licenses.

Until recently, EOSDS was principally focused on the establishment of US production capacity for EOS remotely controlled weapon systems and counter-unmanned aerial systems products.

They restructured last year to support a wider range of EOS business activities in the US in the areas of space, missile defence and space communications.

Shares in Electro Optic Systems Holdings (ASX:EOS) are trading 1 per cent lower at $9.75.
 
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Source: Finance News Network