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(RTTNews) - ESCO Technologies Inc. (ESE) Monday announced that it has agreed to acquire the Signature Management & Power business of Ultra Maritime for $550 million.

The transaction will be funded through cash on hand and incremental debt, with committed financing in place.

The Business' Signature Management and Power Management product lines and their deep engineering capabilities are highly complementary to ESCO's current naval programs.

Bryan Sayler, ESCO's President and Chief Executive Officer, commented, "I'm excited to welcome the outstanding management team and dedicated employees of Signature Management & Power to ESCO. Their product offerings complement our existing submarine and defense-related platforms, providing increased content on domestic naval programs and expansion into international defense markets for our A&D segment.

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