HCl technologies which is one of leading company in IT Technology has announced today that they will acquire Butler America Aerospace for 85 USD millions in cash to strengthening its position in aerospace and defense engineering service in space.
The company also said that, “Butler America Aerospace had revenues of USD 85.4 millions in 31 Dec 2015. The transaction is likely to be in EPS accretive.”
Butler Aerospace provides engineering, design services and after market engineering services to US and defense customers, providing the services in the mechanical and structural design, electrical design, tool design and after market engineering services.
HCL technologies company told in a statement that, “the company will pay USD 85 million in cash to acquire Butler America Aerospace the proposed acquisition will also include the staffing business of Butler America Inc.”
The company also said that, “Butler America Aerospace had revenues of USD 85.4 millions in 31 Dec 2015. The transaction is likely to be in EPS accretive.”
With over 900 engineers and about seven design centers in US, Butler has a huge client base.
It also said that the capabilities of HCL’s in the space and access to clients with the large R&D spend.
The acquisition, subjects to the regulatory approvals includes the approval of CFIUS in us which is expected to be completed by Dec 31,2016
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