Karman Space & Defense said today it agreed to buy Seemann Composites and MSC, which specialize in maritime defense technologies such as submarines.
“The transaction is subject to customary closing conditions and regulatory approvals with Karman providing a total consideration of $220 million, consisting of $210 million in cash and approximately $10 million in Karman common shares,” according to the Huntington Beach-based company.
Seemann and MSC are based in Gulfport, Miss., and Horsham, Pa., respectively,.
Seemann and MSC’s core technologies for submarines and related amphibious platforms include sonar systems, propulsion and missile launch products.
For further details about Karman, see the Jan. 12 print edition.
