January 10, 2019 / 12:33 PM / 5 months ago

Textron Systems buys unmanned vehicle developer Howe & Howe

(Reuters) - Defense contractor Textron Systems said on Thursday it bought Howe & Howe Technologies Inc, maker of military-grade ground vehicles, to expand its unmanned capabilities portfolio.

Textron Systems, a unit of Textron Inc (TXT.N), did not disclose the financial details of the deal.

The company, which makes drones and missiles, said the acquisition, which was finalised in December, would position the company as a leader in autonomy across air, sea and land.

Waterboro, Maine-based Howe & Howe’s portfolio includes advanced robotic land vehicles. It has also worked with the U.S. military to develop a weaponized version of its unmanned tank, Ripsaw.

In October, Textron cited sales decline in Textron Systems as one of the reasons for lower revenue in the third quarter.

Reporting by Mike Stone in Washington and Ishita Chigilli Palli in Bengaluru; Editing by Arun Koyyur

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below