Skip to main content

Orolia to buy beacon manufacturer McMurdo

Orolia and Digital Angel announced they have entered into an agreement for Orolia to purchase emergency beacon manufacturer McMurdo, a Digital Angel unit based in the United Kingdom, for $10 million cash.

Key terms of the transaction include $1.5 million to be held in escrow for up to 12 months to cover post-closing claims, warranties or indemnities.

A closing on the deal is set for Nov. 20.

"This transaction marks an important step towards focusing Digital Angel on a single core business, simultaneously giving us the ability to pay off our term debt and improve our working capital position," Digital Angel CEO and president Joseph J. Grillo said in a statement.

"This acquisition represents continued execution of our growth strategy to acquire and build technology businesses in positioning, navigation and timing," said Jean-Yves Courtois, Orolia chairman and CEO, in a statement.

"The addition of McMurdo to our portfolio of industry-leading brands complements our recent acquisition of Kannad, a leader in positioning systems for extreme environments," he added. "With the combination of these businesses in our positioning systems division, we believe that Kannad's strong presence in avionics segments and McMurdo's market leadership in location beacons in the maritime industry will provide significant opportunities to leverage distribution channels, build a strong division infrastructure, and extend our reach in growth segments for positioning applications."

Orolia is a technology group specializing in precise positioning, navigation and timing. Digital Angel is a technology company in the field of animal identification and emergency identification solutions.

Related

1_TRAVELIFT.COOP

Marine Travelift Launches Co-op Program

The company received its first student, a University of Wisconsin engineering major, in the seven-month paid co-op.

1_JULY4

Trade Only Today Returns Tuesday

The e-newsletter will not publish July 4 in observance of Independence Day. We wish everyone a safe holiday weekend.

1_ORR.FUNDS

ORR Announces Federally Funded Projects

The U.S. Economic Development Administration prioritized outdoor recreation for the first time

Norm#4

Ten Ways To Sell in a Tough Economy

These keys to successful selling can help you create customers who keep coming back, even when sales dip

1_ASA.BOARD

ASA Names New Board Members

The American Sportfishing Association filled two at-large seats and two regional seats on its board of directors.

1_EXEC.SEARCH

Dammrich, Hopkinson Partner With Marine Resources Recruitment

The industry veterans will help clients fill executive-suite, marine industry job openings around the world.

1_PULSE.PING.0630

DEALERS: How Was Business in the First Half of 2022?

With the second quarter coming to a close, was there parity between the budget and financial performance in the first six months? Take the Pulse Report survey here.

1_PMMPODCAST

Passagemaker Relaunches Podcast

Trawler Talk aims to connect with those who are interested in the cruising lifestyle, with episodes dropping every other week