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Curtiss-Wright Acquires Parvus Corporation - Leading Provider of Rugged Computing and Networking Systems Serving the Defense and Industrial Markets - CWcontrols.com / CurtissWright.com
Curtiss-Wright Acquires Parvus Corporation

 

PRZOOM - /newswire/ - Charlotte, NC, United States, 2013/10/01 - Leading Provider of Rugged Computing and Networking Systems Serving the Defense and Industrial Markets - CWcontrols.com / CurtissWright.com. NYSE: CW

   
 
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Curtiss-Wright Controls, Inc. today announced that it has acquired 100% of the shares of Parvus Corporation (Parvus), a business unit of Eurotech S.p.A., for $38 million in cash. Parvus is a leading designer and manufacturer of rugged small form factor computers and communications subsystems for the aerospace, defense, homeland security and industrial markets. The acquired business will operate within Curtiss-Wright's Controls segment.

"The Parvus team has established a leadership position in Commercial Off-The-Shelf (COTS)-based small form factor processors and networking subsystem solutions. This extends Curtiss-Wright’s capabilities and fills two gaps in our product portfolio to help drive continued growth in our core aerospace, defense and homeland security markets," said Tom Quinly, President of Curtiss-Wright Controls.

Founded in 1983, Parvus (parvus.com) is a recognized leader in the design and manufacture of open standard-based modules and systems for C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance) applications in the defense market and various applications in the aerospace, homeland security and general industrial markets. The company’s SWaP-optimized solutions, including Rugged Processor Systems, Mobile Networking Subsystems and Industrial Grade Board-Level PC/104 Modules, are used in critical defense applications such as unmanned systems and tactical C4ISR payloads. Product applications for the industrial markets include system monitoring, diagnostics, communications, networking and vetronics subsystem control, most notably to commercial transportation customers. Their capabilities include rapid turnkey subsystems integration and development services, and the design of complete embedded computer systems tailored to meet specific customer requirements through the use of off-the-shelf building blocks and technical expertise. Parvus, headquartered in Salt Lake City, Utah, has approximately 50 employees and is expected to generate sales of approximately $23 million in 2013.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (curtisswright.com) is an innovative engineering company that provides highly engineered, critical function products, systems and services in the areas of flow control, motion control and surface treatment technologies to the defense, energy and commercial/industrial markets. The legacy company of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of design and manufacturing innovation, and prides itself on long-standing customer relationships. The company employs approximately 10,000 people worldwide.

About Curtiss-Wright Controls, Inc.
Headquartered in Charlotte, N.C., Curtiss-Wright Controls (cwcontrols.com) is the Controls segment of Curtiss-Wright Corporation and a leading designer and manufacturer of advanced technologies for niche actuation and drive applications, integrated sensors and controls, and electronic subsystems internationally for the aerospace, defense and industrial markets.

 
 
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Agency / Source: Curtiss-Wright Corporation

 
 

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Curtiss-Wright Acquires Parvus Corporation

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Curtiss-Wright Corporatio | Parvus Press Room
Contact: Allison Yrungaray - Parvus.com 
626-841-1640 allison[.]parvus.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Curtiss-Wright Corporation securities in any jurisdiction including any other companies listed or named in this release.

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