Beretta acquires two US companies, STS and Diffraction LTD., to extend its Electro-optics Division 40701162

Defence & Security News - Beretta Holding
Beretta acquires two US companies, STS and Diffraction LTD., to extend its Electro-optics Division
Beretta Holding acquires two companies in US, STS and Diffraction LTD. The two U.S. companies sell highly specialized products and systems mainly utilized for night vision applications. The Group increases its presence in the United States, where it already generates more than 50% of revenues. The two acquisitions will be part of the Electro-Optics Division Gardone Valtrompia.
Beretta acquires two US companies STS and Diffraction LTD to extend its Electro optics Division 640 001Beretta Holding headquarters in Gardone Val Trompia, Italy.

Beretta Holding, through its German subsidiary Steiner, announced on monday the acquisition of STS, based in Beavercreek, Ohio (USA), and Diffraction Ltd, based in Burlington Vermont (USA), both held by The O'Gara Group.

The companies offer leading edge solutions in the field of night vision and related technologies relying on the strength of a solid and multifunctional team of highly skilled engineers. The two acquisitions represent an important strategic step in increasing the Group’s product offering in the field of electro-optics.

STS and Diffraction’s products utilize advanced technology recognized worldwide and primarily used by Western countries’ special forces, including the United States (all branches of the US military, government and law enforcement agencies) to many other agencies around the world (including Canada, UK, France, Germany, Italy, France, Switzerland, Norway, etc.).

The acquisition was completed on December 31st using the Group’s own financial resources without any external funding.

STS and Diffraction allow a further strengthening of Beretta Holding into the electro-optics sector, which currently accounts for approximately 15% of the total revenue of the Group, with offerings that includes a range of products and solutions in the electro-optics field, including aiming devices, oculars, laser pointers and portable illumination systems.

This partnership is expected to drive a significant increase of technology and production synergies in the design and marketing of new products and solutions in an industry characterized by a high technological content, where the Group will continue to analyze the possibilities of further growth and integration.

An additional strategic benefit of the transaction for the Beretta Group is the ability to strengthen its presence in the US, where the Group currently generates more than 50% of sales and where investments for the transfer of the activities of Beretta USA to a new production facility located in Tennessee are currently being completed.

Pietro Gussalli Beretta, President and CEO of Beretta Holding, said: "Through the acquisition of STS and Diffraction, our Group achieves a fundamental step in its growth plan to achieve a leadership position in the field of electro-optics. We will continue our process of internationalization and investment in R&D to support the growth of all the companies of the group and to design products and solutions that are always innovative and competitive ".