Essex Corp. (Columbia, MD), a developer of signal processing algorithms and optical solutions for defense and intelligence applications, announced it has acquired privately-owned Sensys Development Laboratories Inc. (SDL), a Maryland-based provider of systems and software engineering services to the intelligence community.
SDL's 28 people is expected to add approximately $4 million to 2003 Essex revenues, projected to exceed $14 million post-acquisition.
SDL's skills and experience should complement Essex's core competencies in image and signal processing technology. This acquisition expands Essex resources and capabilities to deliver information and communications solutions to the highly demanding Intelligence community and to future commercial accounts.
"Our exciting and challenging business combination broadens the array of opportunities in which the SDL team will apply its technical experience," says Richard Krauss, president of SDL. "It opens new avenues for personal growth of SDL people, all of whom share the commitment to excellence, innovation and cutting-edge technology for which Essex has long been known."