HUNT VALLEY, Md. and CYPRESS, Calif., April 11, 2012 (GLOBE NEWSWIRE) -- AAI Unmanned Aircraft Systems (UAS), an operating unit of Textron Systems, a Textron Inc. (NYSE:TXT) company, and KOR Electronics Defense Solutions, a subsidiary of Mercury Computer Systems (Nasdaq:MRCY), announced today a strategic alliance that combines AAI's expertise as a UAS systems integrator with KOR's signals intelligence (SIGINT) equipment.
The organizations intend to integrate KOR's SIGINT products, focused on expeditionary tactical unmanned aircraft such as AAI's renowned Shadow Tactical Unmanned Aircraft System, as a new addition to AAI's family of Multi-Mission Payloads (MMP). Each modular MMP "pod" can be attached quickly to the Shadow aircraft to equip it for the mission at hand.
"This technology provides warfighters actionable, time-sensitive data on the capabilities and activities of their adversaries," said Senior Vice President and General Manager Steven Reid of AAI Unmanned Aircraft Systems. "Equipping our Shadow aircraft — a trusted and omnipresent asset for so many U.S. and allied customers — for this collection mission can help deliver intelligence fast, and to a broader array of deployed forces and formations."
"During the process of evaluating initial alliance partners, KOR recognized that AAI Unmanned Aircraft Systems was a market leader in UAS design, development, production and support, and that the Shadow Tactical UAS is ideally suited for KOR's market-leading SIGINT precision location capability," said KOR Electronics President and Chief Executive Officer Kevin Carnino. "KOR's precision location capability, coupled with the Shadow aircraft's existing electro-optic/infrared sensor, will significantly improve the find, fix and finish timeline and enhance the utility of the Shadow system's intelligence, surveillance and reconnaissance role."
About KOR Electronics
KOR Electronics (www.korelectronics.com), a subsidiary of Mercury Computer Systems, is a leading supplier of subsystem-level solutions for defense prime contractors supporting the worldwide Defense and Intelligence communities. KOR is headquartered in Cypress, California with principal locations in Aurora, Colorado, and Rome, New York.
About Mercury Computer Systems, Inc.
Mercury Computer Systems (www.mc.com) (Nasdaq:MRCY) is a best-of-breed provider of open, commercially developed, application-ready, multi-INT subsystems for defense prime contractors. With over 30 years of experience in embedded computing, superior domain expertise in radar, EW, EO/IR, C4I and sonar applications, and more than 300 successful program deployments including Aegis, Global Hawk and Predator, Mercury's Services and Systems Integration (SSI) team leads the industry in partnering with customers to design and integrate system-level solutions that minimize program risk, maximize application portability and accelerate customers' time to market.
Mercury is based in Chelmsford, Massachusetts, and serves customers worldwide through a broad network of direct sales offices, subsidiaries, and distributors.
About AAI Unmanned Aircraft Systems
AAI Unmanned Aircraft Systems has designed, manufactured and fielded combat-proven unmanned aircraft systems for more than 25 years. AAI's multi-mission capable unmanned aircraft and interoperable command and control technologies provide critical situational awareness and actionable intelligence for users worldwide. Its Australia-based strategic business, Aerosonde Pty Ltd, is a manufacturer of small unmanned aircraft systems. AAI Unmanned Aircraft Systems is an operating unit of Textron Systems. More information is available at www.aaicorp.com.
About Textron Systems
Textron Systems has been providing innovative solutions to the defense, homeland security and aerospace communities for more than 50 years. Headquartered in Wilmington, Mass., the company is known for its unmanned aircraft systems, advanced marine craft, armored vehicles, intelligent battlefield and surveillance systems, intelligence software solutions, precision smart weapons, piston engines, test and training systems, and total life cycle sustainment and operational services. Textron Systems includes AAI Logistics & Technical Services, AAI Test & Training, AAI Unmanned Aircraft Systems, Advanced Systems, Aerosonde, ESL Defence, Lycoming Engines, Medical Numerics, MillenWorks, Overwatch, Textron Defense Systems and Textron Marine & Land Systems. More information is available at www.textronsystems.com.
About Textron, Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at www.textron.com.
Forward-Looking Safe Harbor Statement
This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the products and services described above. You can identify these statements by the use of the words "may," "will," "could," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," "likely," "probable, "and similar expressions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, general economic and business conditions, including unforeseen weakness in the Company's markets, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, continued funding of defense programs, the timing of such funding, changes in the U.S. Government's interpretation of federal procurement rules and regulations, market acceptance of the Company's products, shortages in components, production delays due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions and divestitures or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, changes to export regulations, increases in tax rates, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, unanticipated costs under fixed-price service and system integration engagements, and various other factors beyond our control. These risks and uncertainties also include such additional risk factors as are discussed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2011. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
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