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Ultra Electronics Holdings plc (Ultra), a Middlesex-headquartered group of specialist advanced technology businesses, has made a bolt-on acquisition to complement its US business, Ocean Systems.

The acquisition of Harris Acoustic Products (Harris) from Channel Technologies, Inc, for $7 million (£3.5 million) in cash and sees the integration of Harris into Ocean Systems, an electronic identification systems business within Ultra’s tactical and sonar systems division. It is expected to be earnings accretive in the post-integration period.

Harris, based in Massachusetts, specialises in the design, development, and production of underwater acoustic products, including transducers and arrays, with applications in the submarine market. Their sensors have been installed in the Virginia class of nuclear submarine, which is in series production for the US Navy by Electric Boat, a general dynamics business. Harris’ transducers are also widely used in mine hunting sonar systems.

Ocean Systems, located just 20 miles from Harris’ base in Massachusetts, also cites sonars and transducers among its product portfolio.

Ultra’s chief executive Douglas Caster says he is pleased to have acquired Harris as a bolt-on for Ocean Systems, and believes the addition of Harris’ product designs will strengthen Ultra’s position in its specialist market sectors.

Ultra Electronics specialises in the design, manufacture and support of electronic and electromechanical systems, sub-systems and products for defence, security, aerospace and transport applications worldwide, with an emphasis on integrated IT solutions. The company employs 3,100 people in the UK and North America.

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