TCOM Holdings Announces Acquisition of Aerostar

Rhea-AI Summary

TCOM Holdings, a leader in elevated ISR awareness solutions, has acquired Aerostar International from Raven Industries, a subsidiary of CNH Industrial (NYSE: CNHI). This acquisition enhances TCOM's capabilities in persistent surveillance platforms and advanced radar systems, integrating Aerostar's stratospheric balloons and radar technologies. TCOM aims to leverage these combined strengths to serve Department of Defense and allied military clients more effectively. The deal signifies a strategic step towards expanding TCOM's global reach in aerospace and defense.

Positive

• Acquisition of Aerostar strengthens TCOM's market position in elevated ISR solutions.
• Enhances capabilities in persistent surveillance and advanced radar systems.
• Expected to serve Department of Defense and allied military clients more effectively.

Negative

• None.

The acquisition will Solidify TCOM Holdings' Global Leadership Position in Persistent Surveillance Platforms and Leading-Edge Radar and Sensor Systems.

COLUMBIA, Md., July 29, 2022 /PRNewswire/ -- TCOM Holdings, the parent of TCOM, LP, the global leader in elevated ISR Awareness Solutions, announced it acquired Aerostar International, Inc. from Raven Industries, Inc., a subsidiary of CNH Industrial N.V. (NYSE: CNHI / MI: CNHI).  Aerostar is a world leader in the design, manufacture, integration, and operation of persistent stratospheric platforms and radar systems with headquarters in Sioux Falls, SD.  Aerostar will become an operating business unit under TCOM Holdings.

TCOM offers Multi-Domain Awareness solutions for Force Protection, Distant Warning and Targeting, Critical Infrastructure, and Maritime and Border Security missions.  Its elevated ISR platforms are designed to collect information from multiple integrated sensors and provide situational awareness through integrated communications equipment.  In this era of rapid technology development, maintaining security is an evolving mission with revolutionary threats to changing targets.  TCOM's Elevated Awareness Solutions are custom tailored to meet our customer needs for today and tomorrow.

The Aerostar stratospheric balloons provide critical advantages for a wide range of missions, bridging the capability gap between aircraft and satellites.  In border security, maritime, and air surveillance applications, Aerostar radar systems provide sophisticated statistical detection, tracking, and classification, as well as multi-sensor correlation.

Ron Bendlin, President and Chief Executive Officer of TCOM, stated, "We are excited to welcome Aerostar to our growing portfolio of Aerospace and Defense holdings.  Our ability to leverage TCOM's proven elevated awareness solutions using tethered aerostats and Aerostar's sophisticated sensors and stratospheric balloons will more broadly serve our DoD, DHS, and allied military customers."

Jim Nelson, Aerostar's President, added, "The strategic alignment between TCOM, LP and Aerostar will enhance our ability to innovate in aerospace and defense, drive growth in our target markets, and expand our global reach to connect, protect, and save lives."

About TCOM, L.P.

TCOM, LP, a long-time global leader in Lighter-Than-Air platforms, is proud to offer a full line of elevated awareness solutions.  Combining custom selections of the world's most advanced sensors, customer-specific communications, and intelligent user interfaces with a broad range of airborne platforms provides the end user with a cost-effective, unparalleled capability.  For more information, visit www.TCOMLP.com.

About Aerostar

Aerostar is dedicated to connecting, protecting, and saving lives through its work as an Aerospace & Defense provider. Aerostar's core product offerings include stratospheric platforms, radar, and perception sensors, technical services, and protective wear.  From engineering services to mission planning and support, research and design, and the development of advanced technical products, Aerostar offers tailored turnkey solutions for a multitude of successful operations. Visit www.AEROSTAR.com for more information about Aerostar.

For Media Inquiries:

For TCOM LP  
Mr. Gal Borenstein, The Borenstein Group, Inc.  
Gal@Borensteingroup.com  
703-385-8178 x70

For Aerostar  
Anastasia Quanbeck 
Business Manager
Aerostar
Anastasia.Quanbeck@ravenind.com  
(605) 360-9863

 

View original content:https://www.prnewswire.com/news-releases/tcom-holdings-announces-acquisition-of-aerostar-301596229.html

SOURCE TCOM, L.P.

FAQ

What is the significance of TCOM's acquisition of Aerostar?

The acquisition solidifies TCOM's leadership in persistent surveillance and enhances its technological capabilities.

When did TCOM Holdings acquire Aerostar?

TCOM announced the acquisition on July 29, 2022.

How will the Aerostar acquisition impact CNH Industrial?

The acquisition may impact CNH Industrial by divesting Aerostar, allowing it to focus on its core business.

What are the expected benefits of the TCOM and Aerostar integration?

The integration is expected to drive innovation, growth in target markets, and expanded global reach.

Which company acquired Aerostar and from whom?

TCOM Holdings acquired Aerostar International from Raven Industries, a subsidiary of CNH Industrial.