EOS Acquires US Space Comms Business

Electro Optic Systems Holdings Limited (“EOS” or “Company”) (ASX: EOS), acting through its wholly-owned US subsidiary EOS Defense Systems USA, Inc. (“EOSDS”), has executed an agreement to acquire all of the business and assets of Audacy Corporation, a space communications company based in the US (“Acquisition”). EOSDS will outlay approximately AU$10 million in cash for the Acquisition including substantial costs associated with securing mandatory US government spectrum licenses and other acquisition costs.

EOSDS is an Alabama corporation with its principal place of business in Huntsville, Alabama. Until recently, EOSDS was principally focused on the establishment of US production capacity for EOS remotely controlled weapon systems and counter-unmanned aerial systems products. EOSDS production capacity establishment in Huntsville is on schedule, and EOSDS has been restructured during 2019 to support a wider range of EOS business activities in the US in the areas of space, missile defence and space communications.