SOURCE: DRS Technologies

DRS Technologies

September 16, 2009 09:24 ET

DRS Technologies Completes Acquisition of Soneticom, Inc.

PARSIPPANY, NJ--(Marketwire - September 16, 2009) - DRS Technologies, Inc., announced today it has successfully completed its acquisition of Soneticom, Inc., a Melbourne, Florida based company that provides precision geolocation systems, wireless communications protocols, and digital signal processing.

Mark S. Newman, Chairman and Chief Executive Officer of DRS Technologies, stated, "I am excited to welcome Soneticom into the DRS family of companies. Its expertise in applications development and product engineering will strongly complement our current line of communications solutions. This new addition will also expand the capabilities that we currently offer our military customers and will contribute to our future growth in the intelligence systems business."

Tim Reynolds, President and CEO of Soneticom, Inc. added that "Being part of DRS will give Soneticom the ability to access new markets while offering our existing government and commercial customers additional products, services and solutions necessary to ensure successful communication through all stages of their mission."

Soneticom will immediately join DRS' Defense Solutions Group, a leading provider of ISR, training, unmanned systems, sonar systems and nuclear control products. They will remain based in Melbourne, Florida, where DRS has additional facilities and a sizeable workforce.

"Adding Soneticom's products and services to our intelligence systems business is a significant benefit for our customers involved in communications intelligence (COMINT) and electronic warfare (EW)," said Richard Danforth, President of the DRS Defense Solutions Group. "I am very pleased to welcome this talented workforce to our group."

DRS Technologies, headquartered in Parsippany, NJ, is a leading supplier of integrated products, services and support to military forces, intelligence agencies and prime contractors worldwide. The company is a wholly owned subsidiary of Finmeccanica S.p.A. (FNC.MI) which employs more than 73,000 people worldwide. For more information about DRS Technologies, please visit the company's website at www.drs.com.

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