Vectrus VEC shares are trading higher after the company announced it will acquire Advantor Systems for $44 million.
Advantor Systems is a provider of integrated electronic security systems to the federal government from Infrasafe and Mccarthy Capital. The transaction's purchase price of $44 million was funded by cash on hand and Vectrus' credit facility.
For the fiscal year ending Dec. 31, 2018, Vectrus generated revenue of $35 million.
"Advantor strengthens Vectrus as an innovator in the emerging converged infrastructure market and supports our strategy to advance Vectrus into a higher value, technology-enabled and differentiated platform," said Chuck Prow, CEO of Vectrus.
Vectrus shares were trading higher by 4.4% at $43.30 Monday afternoon. The stock has a 52-week high of $46.51 and a 52-week low of $19.61.
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