US-based MAG Aerospace has agreed to purchase professional services company AASKI Technology (AASKI).
This transaction will add AASKI’s advanced engineering capabilities to MAG, thereby strengthening its position in the market.
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The acquisition will allow MAG to provide command, control, computers, communications, cyber, intelligence, surveillance and reconnaissance (C5ISR) solutions to the US Government, its allies, and commercial customers worldwide.
AASKI CEO Bharat Parikh said: “When considering all our options, the one that stood out the most is the fastest-growing company serving the Department of Defense, MAG Aerospace, and the outstanding support that they provide to the warfighter. It is an honour to join such an exceptional company.”
Financial details of the transaction have not been disclosed.
It is expected to be completed by the second quarter of this year and marks the company’s first acquisition in 2020.
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By GlobalDataBaird and Holland & Knight respectively acted as exclusive financial adviser and legal counsel to AASKI. Ropes & Gray and Cooley served as legal counsellors to MAG.
MAG CEO Joe Fluet said: “When we think excellence in end-to-end communications, logistics and lifecycle management, we think AASKI Technology.
“That reputation has been established over 23 years of mission-focused, customer-centric work. We are proud to have AASKI join the MAG Aerospace team with the shared goal of making the world smaller and safer.”
In March 2019, MAG acquired Australian-based Encore Aviation and its helicopter maintenance business. It also acquired US-based Time Saver Aviation last August.
