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Kratos Completes Sale of the U.S. and U.K. Operations of Its Electronic Products Division
2015-08-24 13:28:11| Telecom - Topix.net
Kratos Defense & Security Solutions, Inc. , a leading National Security Solutions provider, announced today that it has completed the previously announced sale of the U.S. and U.K. operations of its Electronic Products Division to Ultra Electronics Holdings plc for $260 million in cash plus up to $5 million for taxes incurred as part of the transaction, less a $2.0 million escrow to satisfy any purchase price adjustments and a working capital adjustment currently estimated as a net reduction of $7.6 million . The Company expects to pay $13 million in transaction-related costs and approximately $10 million in federal and state income taxes, resulting in net cash proceeds to the Company of approximately $232.4 million.
Tags: products
sale
electronic
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Category:Telecommunications