Allied Research Buys Second Local Company
BY BRAD GRAVES
Publicly traded Allied Research Corp. is raising its profile in San Diego County by announcing another acquisition here.
Vienna, Va.-based Allied Research closed its purchase of SeaSpace Corp. in Poway July 31. Terms of the cash and stock deal were not disclosed.
In December Allied Research closed the acquisition of NS Microwave, a maker of surveillance equipment in Spring Valley.
SeaSpace is a technology company specializing in the interpretation of weather satellite data. It employs 40 people and serves military, academic and commercial customers.
The company will stay in Poway under its existing management. Linda Bernstein is president and Robert Bernstein is chief technology officer.
Linda Bernstein said SeaSpace had been in talks with Allied Research since February. She added there are “synergies” between SeaSpace and NS Microwave and the two local companies may embark on joint projects.
NS Microwave employs 53 people and mainly serves U.S. government law enforcement agencies. Everett Shilts, its president, founded the company in 1986.
Parent company Allied Research specializes in defense and security. It trades on the American Stock Exchange under the symbol ALR. Allied Research reported 501 employees in all of its units as of March.
The company reported net earnings of $10.37 million, or $2.10 per share, on revenue of $96.95 million during 2001.
One of its core businesses is Mecar, a Belgian manufacturer of ammunition and grenades. Another core business is VSK Group, another Belgian concern that makes and installs security systems.
J.H. Binford Peay III, a retired Army general, is chairman, president and CEO of Allied Research. Peay retired in 1997 as commander in chief of the U.S. Central Command , the military unit responsible for operations in Afghanistan and Iraq.
Peay is also a director of United Defense Industries, Inc.