Raven Industries acquires Vista Research

Raven Industries has announced that its Aerostar division has signed a stock purchase agreement to acquire Vista Research, a leading provider of surveillance systems that enhance the effectiveness of radars using sophisticated algorithms. Vista's smart sensing radar systems (SSRS) are employed in a host of advanced detection and tracking applications, including wide-area surveillance for the border patrol and the military.

This acquisition will immediately allow Raven Aerostar to enhance its tethered aerostat security solutions. Longer-term, the company is positioned to meet growing global demand for low-cost detection and tracking systems used by government and law enforcement agencies. Under the terms of the agreement, Raven will acquire Vista Research for an initial cash purchase price of approximately USD 12 million, with up to USD 38.5 million in additional benchmark and earn-out payments over the next seven years. The transaction is expected to close in January and is subject to customary closing conditions.

"Raven is excited to acquire a highly regarded developer of smart radar and sensing processors, including an extremely talented team," said Lon Stroschein, Aerostar division vice president and general manager.

"Together we will bring new innovations for detecting and tracking small objects over the land, on the water and in the air. Our solutions can replace or enhance traditional, high-cost radar systems used today. Our unique proposition is improved security in all types of weather at a lower total cost of ownership."

"Vista Research has pioneered innovative detection and tracking processing systems for more than 25 years, and we have developed smart radar surveillance processors that can help identify threats to critical assets," said Joe Maresca, CEO and co-founder of Vista Research, Inc.

"We are joining forces with Raven Industries, which shares a common vision for peace and stability through innovation and high quality products, and together we look forward to extending our presence in the global radar surveillance market. We are excited about the opportunity to leverage Raven's world-class organization to deliver new feature-rich detection and tracking solutions to customers."