Addition of shortwave infrared (SWIR) and indium gallium arsenide (InGaAs) imaging technology aligns with existing Goodrich intelligence, surveillance and reconnaissance systems
Sensors Unlimited has accepted a $60 million cash offer to merge with Goodrich.
The definitive agreement has been approved by the boards of directors of both companies and is expected to close in the fourth quarter of 2005.
The transaction is subject to approval by US regulatory agencies.
2005 sales for the new business are expected to be $19 million.
Goodrich will acquire a business that has pioneered the design and production of short wave infrared (SWIR) technology.
Sensors Unlimited is involved in indium gallium arsenide (InGaAs) imaging technology - which provides superior imaging performance in extremely low light conditions - and has in-house manufacturing capabilities for advanced infrared cameras and short wave infrared and near infrared focal plane arrays.
Marshall Cohen, president and CEO of Sensors Unlimited, comments: "SUI is the premier developer and manufacturer of shortwave infrared imaging solutions.
"Joining Goodrich will accelerate the insertion of our technology into a wide range of defence and commercial aerospace systems.
"We are excited at the opportunities that this merger affords both Sensors Unlimited and Goodrich".
Sensors Unlimited products have a presence in a variety of markets such as military, security, industrial, commercial, and telecommunications.
Applications range from covert surveillance, night vision and health and safety protocols to historical art inspection.
These products align with existing Goodrich positions in intelligence, surveillance and reconnaissance systems and are expected to create opportunities for additional growth in new and emerging markets.
According to Marshall Larsen, chairman, president and chief executive officer of Goodrich, "This is a strategically important acquisition for our surveillance and reconnaissance business.
"We continue to build on our growing presence in the defence and homeland security markets.
"Short wave infrared sensors and near infrared imaging systems, created with indium gallium arsenide technology, will significantly strengthen our position in the high-growth markets for surveillance and reconnaissance systems as well as homeland security applications.
"For example, our DB-110 airborne reconnaissance system, a Goodrich technology currently flying with the UK Royal Air Force, which will also be flying with Poland's ministry of national defence, is capable of leveraging the addition of short wave infrared technology.
"Our laser perimeter awareness systems that support emerging homeland security needs may also incorporate short wave infrared technology to enhance their capabilities; thereby expanding the already broad portfolio of solutions we can offer to the marketplace".
The business will become part of Goodrich's existing optical and space systems division.
Goodrich is a Fortune 500 company, and is a supplier of systems and services to aerospace, defence and homeland security markets.
With one of the most strategically diversified portfolios of products in the industry, Goodrich serves a global customer base with significant worldwide manufacturing and service facilities.
