News Article

Boeing to acquire Autometric Inc.
Date: Jun 01, 2000
Author: Tim Eaton
Source: MarketWatch ( click here to go to the source)

Featured firm in this article: Autometric Inc of Springfield, VA

SEATTLE (CBS.MW) - The Boeing Company said it will acquire privately held Springfield, Va.-based Autometric Inc. for an undisclosed amount of cash.

A self-described geospatial information technology company, Autometric had $80 million in sales last year and mainly collects, analyzes and interprets satellite imagery for the U.S. Defense Department and intelligence bureaus.

Boeing (BA) plans to incorporate the company into its integrated defense systems division of the space and communications group and run it as a subsidiary.

A spokesperson for the Seattle-based aerospace giant said Autometric's personnel and infrastructure will primarily support Boeing in analyzing data for a recently acquired National Reconnaissance Office contact - the terms of which are classified.

Autometric could also contribute to other Boeing divisions by creating 3-D visualizations of satellite imagery, space simulations and computer modeling, the company said.

Boeing closed up 1 3/16, or 3 percent, to 40 1/4.