CHARLOTTE, N.C., Nov. 25 (UPI) -- U.S. company Goodrich Corp. announced plans to acquire mission-critical guidance technologies developer AIS Global Holdings.
Goodrich announced plans to purchase AIS after signing a deal with a J.F. Lehman and Co. investment affiliate for approximately $375 million. Goodrich says the acquisition is part of an effort to expand its reach in the military and defense market.
The purchase of AIS, a developer of guidance, stabilization and navigation technology for the military, remains subject to regulatory approvals but is expected to be completed before January.
"This acquisition provides the company with another high-growth platform in the defense market that builds on existing Goodrich capabilities," Marshall Larsen, Goodrich chairman, president and chief executive officer, said in a statement.
"AIS' portfolio of inertial sensors is an excellent complement to Goodrich's guidance, control and navigation systems. Combining our engineering strengths and technology will enable us to further support United States and allied forces across the full spectrum of guidance and control systems."
