RENFREW, England, March 19 (UPI) -- British sub-sea operations and engineering firm James Fisher Defense is acquiring Defense Consulting Europe AB for an initial consideration of $6.14 million.
The sum covers the intellectual property of the Swedish company and DCE's entire share capital. An additional $3.15 million will be paid, contingent on turnover and profit targets until June of 2016, the company said.
"This acquisition is a significant move for JFD and enables us to offer our customers a broader range of vehicles to suit a variety of mission types and deployment methods," said Ben Sharples, managing director of James Fisher Defense. "Sweden is renowned for the quality and practicality of its maritime engineering and DCE brings with it a proven range of products and designs, which complement those that exist within JFD."
"We are seeing significant interest in navies looking to develop specific maritime skills for special forces, counter-terrorism and other areas of covert operations. This acquisition will allow customers to benefit from our combined sub-sea engineering experience, safety pedigree and global support network."
DCE designs and manufactures swimmer delivery vehicles for covert operations and its acquisition strengthens JFD's special operations customer offering and its range of SDV products.
With the acquisition, DCE will become James Fisher Defense Sweden.
