COM
DEV
Completes
Asset
Purchase
to
Add
Space
Instrument
and
Microsatellite
Capabilities
April
15,
2010
COM
DEV
International
Ltd.
has
purchased
substantially
all
of
the
assets
of
Routes
AstroEngineering
(“Routes”),
a
privately
owned,
Ottawa-based
company
specializing
in
the
design
and
manufacture
of
advanced
instruments
for
space
science
research
applications.
The
acquisition
provides
COM
DEV
with
technologies
that
support
its
microsatellite
initiative,
including
solar
array
power
systems,
satellite
mass
memory
units,
and
detector
read-out
electronics.
“In
absorbing
the
assets
of a
key
subcontractor,
we
are
mitigating
risk
by
securing
the
completion
of
deliverables
on a
couple
of
our
existing
government
programs,
while
at
the
same
time
adding
new
capabilities
and
complementary
technology,”
said
John
Keating,
CEO
of
COM
DEV.
“This
purchase
is
very
well
aligned
with
our
strategic
thrust
on
instruments
and
microsatellites.
We
have
worked
with
the
Routes
team
on a
number
of
programs,
and
I
expect
their
highly
talented
and
experienced
staff
to
strengthen
our
COM
DEV
Canada
division.”
Under
terms
of
the
transaction,
which
was
prompted
by
unusual
liquidity
concerns
at
Routes,
COM
DEV
is
providing
total
consideration
of
$1.5
million
in
the
form
of
assumption
and
discharge
of
certain
specified
liabilities
of
Routes.
COM
DEV
has
purchased
Routes
assets
with
a
total
fair
market
value
estimated
at
$1.7
million,
including
land
and
building
located
in
close
proximity
to
its
existing
Ottawa
facility,
as
well
as
intellectual
property,
equipment,
receivables,
inventory
and
work
in
process.
The
majority
of
former
Routes
employees
have
accepted
employment
with
COM
DEV
Canada.
The
transaction
closed
earlier
today.
Routes
has
been
a
significant
player
in
the
Canadian
space
industry
for
22
years
and
has
made
solid
contributions
to
Canada’s
success
in
space.
Routes’
heritage
includes:
the
OSIRIS
ozone
monitoring
instrument;
a
power
subsystem
for
SCISAT;
a
readout
electronics
subsystem
for
UVIT;
solar
panels
for
QUICKSAT,
CANX4
and
5,
and
AISSAT;
and
a
data
storage
unit
for
Cassiope.
