Integral Systems announced Wednesday that it has signed an agreement to sell the intellectual property rights, inventory and certain other assets of its Antenna Systems Division, located in Moncks Corner, South Carolina, to LJT & Associates, an engineering services company headquartered in Montgomery, Alabama.
LJT is also hiring the division’s key personnel and is continuing operations in the Moncks Corner, South Carolina facility. The group will operate as the Antenna Systems Division of LJT.
Financial terms of the transaction were not announced.
The Antenna Systems Division is a “turn-key” provider of full motion antennas and RF systems used for tracking low earth orbiting satellites and launch vehicles as well as aeronautical telemetry range operations.
“The addition of the Antenna Systems Division complements our core capabilities and instantly expands our product offerings,” said Leonid J. Tashieko, LJT’s President and CEO.
“Although we are pleased to have sold our Antenna Division assets to LJT, in many respects this transaction is more like a joint venture than a sale,” commented Joe Valvano, Integral’s Antenna Systems Division Director.
“Integral continues to stand behind its current Antenna Division contracts with existing customers and is looking to LJT to assist in the completion of those contracts and ultimately take on all future Antenna Division programs. We believe that we have structured this arrangement to benefit our customers, our employees, LJT and ourselves,” remarked Bill Thomas, Integral’s Antenna Division General Manager.
