For immediate release: February 7, 1996
MDA to Acquire Iotek Inc. of HalifaxVANCOUVER, B.C. - MacDonald, Dettwiler and Associates Ltd. (MDA) has agreed to acquire Iotek Inc. of Halifax. Iotek is a closely-held high-technology company specializing in signal processing and sonar technology for military customers. This strategic acquisition is expected to be completed this month. Financial terms won't be disclosed.
MacDonald Dettwiler's President and Chief Executive Officer, Dan Friedmann, said he is delighted to welcome all of Iotek's 27 employees into MDA, including Iotek's president, Logan Duffield. MDA and its business groups already have Canadian branches in Ottawa and Toronto and international branches in the U.S., England, Australia and Malaysia.
The acquisition will improve MDA's ability to serve one of its major customers, the Canadian military, said Dave Caddey, MDA's Vice-President, Space and Defence Systems. He added that Iotek has unique strengths that are complementary to MDA's and that Iotek's presence in Atlantic Canada will help MDA to serve the military there. MDA's international presence will help achieve the export of Iotek products. MDA and Iotek have worked together on various projects in the past, including surveillance systems.
MacDonald Dettwiler, a unit of Orbital Sciences Corp. of Dulles, Virginia, is working on various computer projects for the Canadian military, including systems for naval mine-hunting, materiel management, artillery command and control and radar-jamming. MDA dominates the global market for ground stations that process Earth images from satellites. In addition, MDA produces advanced operational systems solutions for niche markets in geospatial information management and air traffic management. The PSC Group, wholly-owned by MDA, provides computer network consulting and training.
For further information, please contact:
MacDonald, Dettwiler and Associates Ltd.