SIOUX FALLS, S.D. (AP) - Sioux Falls company Raven Industries Inc. has taken steps to buy Vista Research Inc., an Arlington, Va.-based business that makes surveillance systems to boost the effectiveness of radars.
Raven Industries announced Tuesday that its Aerostar division signed a stock-purchase agreement to buy Vista. Vista's smart sensing radar systems, known as SSRS, are used in detection and tracking applications, such as surveillance for the border patrol and the military.
Raven officials say in a statement that the company aims to provide low-cost systems for government and law-enforcement agencies. The acquisition will cost $12 million initially, with up to $38.5 million in earnings over the next seven years.
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