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Vought Defense To Buy Quality Performance

April 14, 2010 (FinancialWire) — Vought Defense Systems Corp. (OTC: VDSC), a provider of UAV systems and other solutions for the United States government, said that it has entered into a contract to acquire 100% of the voting stock of Quality Performance, Inc.

Virginia-based QPI sells products to government and commercial customers in the United States. QPI also provides life cycle product support services including maintenance services for its products.

Services include program management, engineering and technical support, installation and checkout support on site, factory training, spare parts logistics support, technical documentation, and depot-level maintenance repair. QPI's largest customer is the United States Navy.

In 2009, QPI generated $9.2 million in revenue and $1.5 million in operating profit, according to Vought Defense.

Both parties said they anticipate closing the transaction in May 2010.

Florida-based Vought Defense Systems is a holding company that owns and operates through its wholly owned subsidiary, Redtide Defense Group, which is a manufacturer of Unmanned Aerial Vehicles. In conjunction with this acquisition, Vought's name will be changed to ALAS Defense.

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