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April 1, 2014
08:28 EDTARTXArotech acquires UEC Electronics
Arotech announced that it has acquired UEC Electronics, a company based in Hanahan, South Carolina. UEC will be integrated into Arotech's Battery and Power Systems Division. The initial acquisition price of UEC under the contract entered into with the seller of UEC consisted of $28.0M in cash and 775,000 shares of Arotech's common stock, plus a potential earn-out of $5.5M over the next two calendar years. On March 31, the closing price of Arotech's common stock on the Nasdaq Global Market was $6.22 per share, causing the common stock issued in the acquisition to be valued for accounting purposes at $4.82M, subject to potential reduction to reflect the fact that the stock being issued in the acquisition is unregistered and not freely tradable. Arotech's primary bank has funded $22.5M of the cash requirement, which Arotech expects to pay back over the next five years out of its operating cash flow.
News For ARTX From The Last 14 Days
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June 24, 2015
08:04 EDTARTXArotech's Training and Simulation division receives $8.7M in new orders
Arotech announced that its Training and Simulation Division has received $8.7M in new awards and contract modifications since the beginning of the second quarter. These orders are highlighted by $2.8M in funding for continued field support and capabilities upgrades to the U.S. Army's Virtual Clearance Training Suites, a $1.1M award for a York Region Rapid Transit Bus simulator, and a new international aircraft platform for its ZAP weapon employment software.

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