Curtiss-Wright Corp. [CW] yesterday said it has acquired Parvus corp. for $38 million in cash, a deal that gives it a position in the rugged computing systems space for defense and industrial applications.
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| Parvus DuraCOR 830 tactical mission computer. Photo: Parvus |
Parvus, which is a business unit of Italy’s Eurotech S.p.A., is based in Utah and is expected to generate $23 million in sales this year, with the majority from defense customers.
Parvus is also known for its miniaturized solutions in rugged computing and network systems.
The acquisition of Parvus significantly expands Curtiss-Wright’s ability to meet the growing demand from global aerospace, defense and industrial customers who require increased miniaturization and size, weight and power-optimized solutions,” David Adams, president and CEO of Curtiss-Wright, said in a statement. He also said that the deal give his company “opportunities to extend our combined technologies into new complementary markets, in particular the industrial markets.”
Parvus’ open standard-based systems are used in C4ISR applications in the defense market and in various applications in the aerospace, homeland security and industrial markets.
Parvus, which has 50 employees, will operate within Curtiss-Wright’s Controls segment.