Boeing Co. inks pact to acquire Digital Receiver Technology
Chicago based Boeing Co. has signed an agreement to acquire Germantown, Maryland-based Digital Receiver Technology, Inc., a developer of hardware and software products for wireless surveillance and tracking equipment.
The proposed acquisition is another move in company’s strategy to expand its presence in the growing intelligence market.
DRT’s digital signal processing products, such as wireless receivers and transceivers are used by the intelligence community and the Defense and Homeland Security departments to gather signal intelligence and threat warnings.
Digital Receiver, based in Germantown, Md., has about 370 employees, the majority of whom are located in Germantown.
The acquisition expected to close by the end of the year, at which time DRT will be integrated into the company’s Integrated Defense Systems’ Network and Space Systems unit, the market sources revealed.
Boeing’s Integrated Defense Systems unit, which manufactures military aircraft is a $32.1 billion business based in St. Louis with 71,000 employees worldwide.
The stock closed Thursday's trading at $43.16, up $0.64 or 1.50%, on a volume of 13.9 million shares on the NYSE.
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