DRS Sells Broadcast Assets to AheadTek - TvTechnology

DRS Sells Broadcast Assets to AheadTek

DRS Technologies Inc. has sold the assets of its DRS Ahead Technology unit to Ahead Magnetics Inc., a California-based company operating under the name AheadTek. AheadTek makes magnetic head components for customers in television broadcast, video production, computer and data storage, and will continue existing operati
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DRS Technologies Inc. has sold the assets of its DRS Ahead Technology unit to Ahead Magnetics Inc., a California-based company operating under the name AheadTek. AheadTek makes magnetic head components for customers in television broadcast, video production, computer and data storage, and will continue existing operations from its San Jose location.

The operation accounted for less than 2 percent of DRS Technologies' fiscal 2002 revenues, and was sold in a management buyout as part of a DRS plan to concentrate on its core defense businesses in electronics.

The value of the sale was not released.