EMCORE to acquire the fiber optic gyroscope and Inertial Navigation Systems business segment of KVH Industries for $55m.

EMCORE, a provider of advanced mixed-signal products, agreed to acquire the fiber optic gyroscope and Inertial Navigation Systems business segment of KVH Industries, a mobile connectivity and inertial navigation systems developer, for $55m. “We are very excited to add not only a strong and growing business with KVH’s inertial navigation team, but also best-in-class manufacturing capabilities, low-cost technology development, and an exemplary sales team. When we combine these with EMCORE’s closed loop and transceiver technologies, we see substantial opportunities for both businesses across revenue, gross margins, and net income. The addition of the KVH inertial navigation product line further expands our reach into the tactical grade segment of the market and solidifies EMCORE’s position as one of the largest independent inertial navigation providers in the industry,” Jeff Rittichier, EMCOR President and CEO.