Cyalume Technologies Holdings announced today completion of the company’s acquisition of JFC Technologies, and will host a conference call with financial analysts and investors today at 12:00 PM ET. (A transcript of the call will be available on the Cyalume IR webpage shortly after the call.)
Cyalume Technologies, the world leader in chemi-luminescent technology for the chemical generation of light, acquired JFC, a leading developer of specialty chemicals, for a $5 million consideration, split evenly between cash and stock, plus an earn-out based on 2012 and 2013 performance, the cash portion coming from Cyalume’s working capital. JFC will be run as a wholly owned subsidiary of Cyalume, under the name of Cyalume Specialty Products, Inc. JFC has generated over $5 million in revenue, and $1 million EBITDA, over the past 12 months. The acquisition was unanimously approved by the boards of both companies.
The acquisition of JFC, a long-time partner of Cyalume, is expected to substantially augment Cyalume’s research and production capabilities, plus allow Cyalume to better manage its supply chain and let it manufacture its active chemical components domestically.
Cyalume president and CEO, Derek Dunaway, commented, “The strategic acquisition of JFC’s chemiluminescent expertise and production capabilities will enhance Cyalume’s ability to bring to market innovative products as well as improve our existing product performance. The combination will allow Cyalume to address the military’s most demanding chemical-light technology requirements including the
development of new training and tactical chemiluminescent ammunition applications.”
Cyalume offers a suite of visible and non-visible chemical light products, primarily for U.S. and NATO training and battlefield applications and for safety professionals worldwide. Products include chemi-luminescent ammunition payloads for an environmentally-friendly alternative to conventional ammunition.
For additional information, visit the company’s website at www.Cyalume.com
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