Sparton Corp. [SPA] on Monday said it has acquired sonar transducer products and components maker Argotec, Inc., adding to its core expertise in navigation and exploration.
“Although not material in size, Argotec brings valuable intellectual property to our NavEx segment, as well as a consistent single-sourced revenue stream for key military end applications,” Cary Wood, Sparton’s president and CEO, said in a statement. “As we enhance our current product offering with these newly acquired products and components, we will explore new engineering development opportunities with the U.S. Navy, foreign naval operations, and prime defense contractors.”
In addition to its products and component, Florida-based Argotec provides aftermarket services. The products are mainly hydrophones and projectors, which are used in test equipment, environmental sensor arrays, and various military and commercial sonar applications.
The products will be consolidated in Sparton’s Navigation and Exploration segment.
The all cash transaction was completed on Dec. 8.