Transactions
December 21 2010
KippsDeSanto & Co. Advises EchoStorm on Its Sale to ITT Corporation
KippsDeSanto & Co. is pleased to send you the attached press release announcing the acquisition of our client, EchoStorm Worldwide, LLC (“EchoStorm”), by ITT Corporation (“ITT”). ITT acquired EchoStorm to expand its Intelligence, Surveillance, and Reconnaissance (“ISR”) capabilities with a leading product suite of Full Motion Video (“FMV”) technologies in support of Unmanned Aerial Vehicle (“UAV”) initiatives. The transaction closed on December 17, 2010.
Headquartered in Suffolk, Virginia, EchoStorm is a leading ISR solution provider of net-centric, FMV management products that complement many key UAV platforms. The Company’s software technologies, including the flagship adLib product, provide web-based, standards-compliant solutions for capturing, processing, storing, and disseminating FMV from manned and unmanned vehicles and ground-based sensors. Moreover, EchoStorm products deliver multifaceted ISR functions to enable analysts to seamlessly search for, organize, annotate, and exploit an array of different sensor video data through a format-agnostic, fully-interoperable medium. EchoStorm’s proprietary product suite supports mission critical analysis functions across a diverse group of end users making sense of data collected from manned and unmanned platforms.
We believe this transaction demonstrates several key trends in the defense M&A environment:
• Robust growth trends continuing across the global ISR market, with a specific focus on capabilities enhancing the efficacy of UAV assets.
• Buyers looking to acquire proprietary technology and intellectual property to complement and expand upon existing solutions.
• Military and intelligence users demanding advanced solutions to manage the rapid ingest of video data, which widely outstrips current processing capabilities.
• Value of strong relationships with well-funded customers in priority budget areas.
LEAD INVESTMENT BANKERS
Michael J. Misantone
Jon Yim
KippsDeSanto & Co. is pleased to send you the attached press release announcing the acquisition of our client, EchoStorm Worldwide, LLC (“EchoStorm”), by ITT Corporation (“ITT”). ITT acquired EchoStorm to expand its Intelligence, Surveillance, and Reconnaissance (“ISR”) capabilities with a leading product suite of Full Motion Video (“FMV”) technologies in support of Unmanned Aerial Vehicle (“UAV”) initiatives. The transaction closed on December 17, 2010.
Headquartered in Suffolk, Virginia, EchoStorm is a leading ISR solution provider of net-centric, FMV management products that complement many key UAV platforms. The Company’s software technologies, including the flagship adLib product, provide web-based, standards-compliant solutions for capturing, processing, storing, and disseminating FMV from manned and unmanned vehicles and ground-based sensors. Moreover, EchoStorm products deliver multifaceted ISR functions to enable analysts to seamlessly search for, organize, annotate, and exploit an array of different sensor video data through a format-agnostic, fully-interoperable medium. EchoStorm’s proprietary product suite supports mission critical analysis functions across a diverse group of end users making sense of data collected from manned and unmanned platforms.
We believe this transaction demonstrates several key trends in the defense M&A environment:
• Robust growth trends continuing across the global ISR market, with a specific focus on capabilities enhancing the efficacy of UAV assets.
• Buyers looking to acquire proprietary technology and intellectual property to complement and expand upon existing solutions.
• Military and intelligence users demanding advanced solutions to manage the rapid ingest of video data, which widely outstrips current processing capabilities.
• Value of strong relationships with well-funded customers in priority budget areas.
LEAD INVESTMENT BANKERS
Michael J. Misantone
Jon Yim
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