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FALLS CHURCH, Va. - General Dynamics (NYSE: GD) today completed its acquisition of Newton, N.C.-based TriPoint Global Communications Inc., a privately held provider of ground-based satellite and wireless communication equipment and integration services for video, voice and data applications worldwide.
Terms of the acquisition were not disclosed. TriPoint Global Communications and its VertexRSI, Prodelin and Gabriel brands provide solutions for global satellite and wireless communications requirements. The company is a leading supplier of base station and earth station communications products and services, VSAT antennas and antenna systems and wireless backhaul products.
The company has approximately 1,450 employees in 14 locations, including Newton, N.C.; Duluth, Ga.; San Jose and Torrance, Calif.; Rockaway, N.J.; State College, Penn.; Kilgore, Longview, Mexia and Richardson, Texas; and Estonia, Germany and India.
"This acquisition enables us to expand our product offerings to our traditional strategic and tactical communications customer base, and gives us new capabilities to meet the developing mobile 'communications on the move' requirements of defense and other government customers," said Mark A. Fried, president of General Dynamics C4 Systems.
TriPoint Global Communications will become part of the General Dynamics C4 Systems business unit, which is a leading integrator of secure communication and information systems and technology. With more than 7,600 employees worldwide, the company specializes in command and control, communications networking, computing and information assurance for defense, government and select commercial customers in the United States and abroad.
General Dynamics, headquartered in Falls Church, Va., employs approximately 69,400 people worldwide and anticipates 2004 revenues of $19 billion. The company has leading market positions in mission critical information systems and technologies, land and amphibious combat systems, shipbuilding and marine systems, and business aviation.
This press release contains certain forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Actual future results and trends may differ materially from what is forecast in forward-looking statements.
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