SAO PAULO, Sept. 25 (UPI) -- Embraer Defense & Security of Brazil is acquiring the remaining 50 percent of shares in Atech Negocios em Tecnologia S.A., becoming the company's sole owner.
Atech develops strategic command, control and intelligence products, and also provides consulting services, technical and logistical support.
"Our association [with Atech] has been particularly positive, creating a number of business opportunities and contributing to expanding the portfolio of products and services in the areas of systems, defense and security, and air traffic control, which complement the aeronautics business," said Luiz Carlos Aguiar, president of Embraer Defense & Security. "Furthermore, the fact of being able to count on Embraer's international recognition helps reinforce Atech´s position in Brazilian and foreign markets."
Embraer, Brazil's largest defense and security company, said an agreement for acquisition of the shares has already been signed but no details of the financial transaction have been disclosed.
Embraer said the deal is subject to customary conditions and that acquisition of the company is an important step in consolidating Embraer Defense & Security as a strategic defense company.
Embraer acquired its initial 50 percent stake in Atech in 2011.