Electro Optic Systems Holdings Limited (EOS) (ASX: EOS), acting through its wholly-owned US subsidiary EOS Defense Systems USA, Inc. (EOSDSUSA), has executed an agreement to acquire all of the business and assets of Audacy Corporation, a space communications company based in the US. EOSDSUSA will outlay approximately AU$10 million in cash for the acquisition including substantial costs associated with securing mandatory US government spectrum licenses and other acquisition costs.
EOSDSUSA is an Alabama corporation located in Huntsville. Until recently, EOSDSUSA was principally focused on the establishment of US production capacity for EOS remote weapon stations and counter-unmanned aerial systems products. EOSDSUSA production capacity establishment in Huntsville is on schedule, and EOSDSUSA has been restructured during 2019 to support a wider range of EOS business activities in the US in the areas of space, missile defense and space communications.
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