Aspen Avionics Acquires Accord Technology and AvValues LLC

Aspen Avionics Acquires Accord Technology and AvValues LLC

25-Jun-2015 Source: Aspen

Aspen Avionics announced today that it has acquired Accord Technology, LLC (AT) from Accord India and AvValues LLC of Phoenix, Arizona. The transaction was completed on June 19, 2015 using a combination of cash and securities. NEXA Capital Partners provided merger and acquisition financial advisory services to Aspen Avionics.

The acquisition has resulted in an expansion of the company’s geographic footprint to include a new administrative and production facility in Phoenix, Arizona. John Uczekaj will continue to lead the company as president and chief executive officer. The name of the combined company remains Aspen Avionics.

Accord Technology will operate as an Aspen Avionics company continuing to supply Federal Aviation Administration (FAA) -approved Original Equipment Manufacturer (OEM) Global Positioning Systems (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.

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 its highly successful NexNavTM 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 Hal 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 SystemTM, and Connected PanelTM – 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 OEM and other aerospace segments on both manned and unmanned platforms. Its NexNavTM GPS SBAS WAAS multiple-solutions product line revolves around three key receivers, NexNav MiniTM, NexNav MAXTM and the recently introduced NexNav MicroTM.

About Accord Technology, LLC

Headquartered in Phoenix, Arizona, Accord Technology LLC is a joint venture of Accord Software & Systems Pvt. Ltd., Bangalore, India, and AvValues LLC of Phoenix, Arizona that delivers technically advanced and affordable GPS solutions. Accord leverages their proven Global Navigation Satellite Systems knowledge and experience employed in the development of the first GPS sensor to be authorized US FAA TSO-C145c. Accord Technology LLC is the design authority and is responsible for the manufacturing, certification, support, administration and business development associated with the civil aviation GNSS business.

About NEXA Capital Partners

NEXA Capital Partners, LLC provides advisory and investment banking services to companies in the aerospace and transportation sectors. NEXA is the general partner for the NextGen GA Fund, LLC, and is lead formation partner of the UAS America Fund, LLC. More information about NEXA can be found at www.nexacapital.com.

About Aspen Avionics, Inc.

A new way to look at avionics.™

Aspen Avionics specializes in bringing the most advanced technology and capability from the commercial and business aviation markets into general aviation cockpits—and budgets. Our products increase situational awareness and reduce pilot workload, making it easier and safer to fly in both VFR and IFR conditions. The way we look at it, getting the latest avionics technology shouldn’t always mean spending a lot of money—on equipment or installation. At Aspen Avionics, we design products to be affordable, easy to install, and easy to own. The company can be found online at www.aspenavionics.com

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