Boeing to buy DRT
St. Louis Business Journal
The Boeing Co., whose Integrated Defense Systems unit is based in St. Louis, said Friday that it agreed to buy surveillance product company Digital Receiver Technology Inc. (DRT) for an undisclosed sum.
Based in Germantown, Md., DRT develops hardware and software products for wireless surveillance and tracking equipment for federal government and law enforcement customers. The majority of DRT’s 370 employees are located in Germantown.
“This acquisition is another move in our strategy to expand our presence in the growing intelligence market,” Jim Albaugh, president and CEO of Boeing Integrated Defense Systems, said in a statement.
Boeing expects to complete the deal by the end of the year, at which time DRT will operate within Boeing Integrated Defense Systems’ Network & Space Systems unit.
A unit of Chicago-based Boeing Co. (NYSE: BA), Integrated Defense Systems is one of the world’s largest space and defense businesses. Headquartered in St. Louis, Integrated Defense Systems is a $32.1 billion business with 71,000 employees worldwide.
Related Industry News |
Latest News |
Most Viewed Stories |
Most Emailed Stories |
