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Aspen Avionics Acquires GPS OEM Company Accord Technology

June 24, 2015  - By
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Image: GPS World

Aspen Avionics has acquired Accord Technology LLC from Accord India. Accord Technology will operate as an Aspen Avionics company continuing to supply Federal Aviation Administration (FAA) -approved OEM GPS solutions to the aerospace industry. Support of its current client base will carry on as usual with licensed production.

“Accord’s expertise to design and develop solutions that meet NextGen and other performance-based navigation requirements, coupled with Aspen’s display offering, create the opportunity to provide unique solutions for all aerospace segments,” said John Uczekaj, president and chief executive officer, Aspen Avionics.

“This is a perfect blending of two companies known for their innovative culture. Aspen and Accord share the same passion to develop aviation solutions that improve situational awareness and promote flight safety at an affordable price,” said Shenoy Raghavendra, Accord Technology chief executive officer.

The transaction, announced today, was completed on June 19 using a combination of cash and securities. NEXA Capital Partners provided merger and acquisition financial advisory services to Aspen Avionics. Also acquired was AvValues LLC, also based in Phoenix. Accord Technology LLC is a joint venture of Accord Software & Systems Pvt. Ltd., Bangalore, India, and AvValues.

Hal Adams, founder of AvValues, has been named executive vice president of business development for the combined companies. He will be driving new business to include growing the successful NexNav product line.

“Our combination of innovation and capabilities is unmatched in the aviation industry with the potential to deliver even more affordable, intuitive fight deck and avionics solutions. This translates into meaningful benefits to owner/operators in all areas of manned and unmanned aviation,” said Adams, executive vice president of business development.

Aspen Avionics is a leader in manufacturing glass cockpit displays for general aviation. Founded 10 years ago, more than 9,000 Aspen cockpit systems have been installed worldwide. Aspen Avionics is globally recognized for providing the general aviation marketplace with innovative and affordable products including its Evolution Flight Display System and Connected Panel  — the first certified wireless technology that communicates with onboard avionics systems.

Founded in 2008, Accord Technology’s expertise lies in design, manufacture and support of GPS, with Satellite Based Augmentation Systems (SBAS) such as the USA’s Wide Area Augmentation System (WAAS), receivers and sensors for OEMs for all aerospace segments, on manned and unmanned platforms. Its NexNav GPS SBAS WAAS multiple-solutions product line revolves around three key receivers: NexNav Mini, NexNav MAX and the recently introduced NexNav Micro.

 

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