Boeing to Acquire Military Logistics Provider CDM Technologies
ST. LOUIS, Nov. 16, 2010 -- Boeing [NYSE: BA] today announced that it has signed an agreement to acquire CDM Technologies, a software engineering company that specializes in real-time transportation and logistics planning systems for the U.S. military. The transaction will be effected through Boeing's Tapestry Solutions subsidiary.
The acquisition supports Boeing's growth strategy for logistics command and control.
"CDM Technologies brings capabilities that enhance our existing portfolio while allowing us to accelerate growth in the logistics command and control market," said Greg Deiter, vice president of Defense & Government Services for Boeing. "This acquisition is another important step in our mission to assemble the technologies that will help us drive efficiency into our customers' distribution processes."
CDM Technologies is headquartered in San Luis Obispo, Calif., and employs 130 people. Once acquired, CDM Technologies will be fully integrated into Tapestry Solutions.
"CDM Technologies' intelligent decision-assistance tools will increase the adaptability of logistics planning for Boeing customers," said Galen Aswegan, president of Tapestry Solutions and director of Boeing Logistics Command & Control. "Whether by air, sea, rail or road, their routing and load-planning optimization software provides customers with in-transit visibility and rapid re-planning capabilities."
CDM Technologies is privately held and the terms of the transaction are not being disclosed. The transaction does not affect Boeing's current financial guidance and is expected to close by the end of the fourth quarter of 2010.
Tapestry Solutions of San Diego is a wholly owned subsidiary of Boeing and forms the core of the Logistics Command and Control (LogC2) subdivision of Defense & Government Services, an operating division of Boeing Defense, Space & Security's Global Services & Support business unit. Acquired by Boeing in 2008, Tapestry provides custom software development, system engineering, geographic information systems (GIS), field support, training, consulting, support services, and modeling and simulation to the U.S. military, other government customers and the private sector.
Source: BOEING
