New York, July 31 (FinanceEnquiry.com) – Max-Viz Inc has been acquired by Astronics Corporation (NASDAQ: ATRO)
Max-Viz Inc is a privately held company and is a market leading developer and designer of Enhanced Vision Systems for fixed and rotary wing aircraft through OEM and after market channels both in general aviation, commercial and military aerospace markets for worth $10 million in cash.
If Max Viz achieves certain revenues targets in 2013, 2014 and 2015, ATRO will pay around $8.0 million for additional purchase consideration.
Max Viz was founded in 2001 in Portland, OR and had revenues of $5.4 million and back log of $3.0 million at the end of 2011 and is estimating 2012 full year revenue in the range of $7.0 million to $8.0 million.
Max Viz’s EVS product product line fuses infrared and visible imagery in order to allow real time display to pilots for increased visibility in adverse weather conditions like darkness, precipitation, fog, dust and smoke.
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