TDY - Huntington Ingalls Industries To Acquire Hydroid For UUV Tech
Quick Take
Huntington Ingalls Industries (HII) has announced the proposed acquisition of Hydroid for $350 million.
Hydroid has developed a family of advanced marine robotic vehicles for use in various applications.
With the deal, HII gains marine robotics technologies as well as a relationship with European marine and aerospace firm Kongsberg.
The stock may be slightly undervalued at its current level, so my bias is cautiously BULLISH on HII.
Target Company
Pocasset, Massachusetts-based Hydroid was founded to develop high performance unmanned underwater vehicles [UUV] for applications in defense, research and commercial markets.
Management