Digital angel buys Chemring's McMurdo
$7.5 million deal expected to pay dividends in 2009 when COSPAS-SARSAT equipment is replaced
Some news from the emergency beacon industry. St. Paul, Minnesota-based Digital Angel — known for its implantable tracking microchips as well as for its work with GPS and geosynchronous satellite communications systems — announced last week that it had completed its $7.5 million purchase of U.K.-based McMurdo from the Chemring Group. McMurdo, readers may recall, sells homing and locating devices for the military and commercial marine sectors — including the the first Global Maritime Distress and Safety System (GMDSS ) approved search and rescue transponder. “We expect the McMurdo acquisition to add at least $8 million to $9 million of additional revenue for the remainder of 2007,” said Digital Angel CEO Kevin McGrath, noting that impending changes to the COSPAS-SARSAT satellite monitoring system mean much of the equipment currently in service will require replacement by February 2009.
