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| Meggitt Snaps Up Texas-Based S-TEC for Avionics and UAV Technology
Britain's Meggitt plc, the international aerospace and electronics
group, has bought Texas-based S-TEC Corp. and S-TEC Unmanned Technologies,
Inc., or SUTI. S-TEC is a leading supplier of retrofit systems
and autopilots for the general aviation market and is an OEM supplier
of autopilots for new aircraft. SUTI designs and manufactures
UAVs. The entire acquisition is valued at $24.2 million. S-TEC
will become part of Meggitt Aerospace Systems as an addition to
an existing suite of primary cockpit avionics for the general
aviation market-known as MAGIC. S-TEC's existing world-wide network
of general aviation dealers will greatly assist Meggitt in penetrating
this sector of the aftermarket. SUTI will be incorporated into
Meggitt Defence Systems, where its range of vehicles will complement
Meggitt's existing range of Spectre UAVs. | ||||||
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