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Northrop Grumman Acquires Xinetics Inc.

Los Angeles, California – October 24, 2007:   Northrop Grumman Corporation today announced that it had acquired the deformable mirror manufacturer Xinetics Inc. during the third quarter of 2007.
  Northrop Grumman acquired the remaining 61 percent of Scaled Composites, LLC during the same period. It made the two acquisitions for an aggregate amount of approximately $100 million in cash.
 


Previous News:  
Xinetics Receives Loan for Jobs Growth, Looks to Nanotech, Jun 2005.


About Northrop Grumman:  
Northrop Grumman Corporation is a $30 billion global defense and technology company whose 120,000 employees provide innovative systems, products, and solutions in information and services, electronics, aerospace and shipbuilding to government and commercial customers worldwide.


About Xinetics:  
Xinetics was founded in 1993 to preserve critical defense-related active materials technologies and develop them into commercial precision motion-control products. Xinetics started in Littleton, Massachusetts at a single 2,500 square foot facility. The company now occupies five buildings with a total of 90,000 square feet in Devens, Massachusetts.

 

Full Press Release

 

© 2007
 
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