Ultra Electronics completes acquisition of Forensic Technology

14th May 2014 07:10

FTSE 250-listed Ultra Electronics revealed it has received US regulatory approval for the acquisition of Forensic Technology WAI and as such the transaction is now complete.The defence and security group paid 94m Canadian dollars, and will pay up to an additional 6m depending on earnings growth during the next two years.Forensic, which employs 253 people across five offices around the globe, provides automated firearm ballistics identification and forensic analysis systems to law enforcement agencies in over 65 countries. NR