Codan Limited announced that it has entered into an agreement to acquire 100% of the shares in U.S.-based company, DTC, from a private equity company. The acquisition is expected to be completed by April 30, 2021, subject to regulatory conditions typical for transactions of this nature.
DTC is an established commercially-off-the-shelf technology provider of high bandwidth wireless communications with capabilities in MIMO Mesh networks and next generation software defined radios that stream data across its self-forming and self-healing networks.
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DTC is a trusted and long-term supplier for more than 20 key U.S. government agencies, as well as the “Five Eyes” intelligence communities, including Military, Special Forces, Border Control, First Responders and Broadcasters. DTC is headquartered in the U.S., with locations in the UK and Denmark.
Codan’s Chief Executive Officer, Donald McGurk, said “The acquisition of DTC is consistent with Codan’s well-publicized strategic growth plan for our Tactical Communications business. This is focused on providing total voice, data and video communications solutions by transitioning from a traditional voice-only platform.”
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Codan’s President for Tactical Communications, Paul Sangster, said “DTC is an important strategic acquisition for us and brings complementary capabilities to our existing tactical communications solutions. We will be able to add immediate value by integrating DTC’s and Codan’s sales and marketing teams as we open new geographic routes to market. Over the long term, our combined engineering capabilities will allow us to bring unique communications solutions to a diverse global customer base from military to security to broadcasting.”
DTC’s Chief Executive Officer, Juan Navarro said “Codan is a perfect fit for DTC given our shared dedication to meeting our customers’ mission critical communications needs. DTC’s product portfolio is complementary to Codan’s Tactical Communications solutions across the markets we jointly serve. We believe that there is excellent cultural alignment, and DTC looks forward to working with Codan to effect a seamless integration into the Codan group.”
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