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Moog pays $32M for Crossbow

Posted: 08 Jun 2011 ?? ?Print Version ?Bookmark and Share

Keywords:acquisition? MEMS? acceleration sensors?

Moog Inc. has bought Crossbow Technology Inc. for approximately $32 million. The acquisition will complement Moog's established controls business and allow it to offer more comprehensive solutions to its existing customers.

Crossbow specializes in the design and manufacture of acceleration sensors that are integrated into inertial navigation and guidance systems of a variety of aerospace, defense and transportation applications. Moog, on the other hand, designs, manufactures and integrates precision control components and high-performance systems which control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, wind energy, marine and medical equipment.

This latest corporate acquisition for about $32 millionnet of Crossbow's cash balancesis Moog's second in less than two weeks after it acquired Animatics Copr. On May 24. Animatics is a supplier of servo motors and linear actuators.

The Crossbow buy is seen as part of Moog's role as prime contract holder for the development and integration of the primary flight control and leading edge flap actuation systems for the Joint Strike Fighter Program.

According to Moog's aircraft group president Warren Johnson, the company was attracted to Crossbow's innovative use of MEMS (micro-electro-mechanical systems)-based technology in their advanced sensing products which will complement Moog's business and expectedly add about $5 million to the company's sales revenues for the remaining four months of its 2011 fiscal year.

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