Boeing Subsidiary Tapestry to Acquire CDM Technologies
ST. LOUIS, MO November 16, 2010 -- Boeing
[NYSE: BA] today announced that it has signed an agreement to
acquire CDM Technologies, a software engineering company that
specializes in real-time transportation and logistics planning
systems for the U.S. military. The transaction will be effected
through Boeing's Tapestry Solutions subsidiary.
The acquisition supports Boeing's growth strategy for logistics
command and control.
"CDM Technologies brings capabilities that enhance our existing
portfolio while allowing us to accelerate growth in the logistics
command and control market," said Greg Deiter, vice president of
Defense & Government Services for Boeing. "This acquisition is
another important step in our mission to assemble the technologies
that will help us drive efficiency into our customers' distribution
processes."
CDM Technologies is headquartered in San Luis Obispo, Calif.,
and employs 130 people. Once acquired, CDM Technologies will be
fully integrated into Tapestry Solutions.
"CDM Technologies' intelligent decision-assistance tools will
increase the adaptability of logistics planning for Boeing
customers," said Galen Aswegan, president of Tapestry Solutions and
director of Boeing Logistics Command & Control. "Whether by
air, sea, rail or road, their routing and load-planning
optimization software provides customers with in-transit visibility
and rapid re-planning capabilities."
CDM Technologies is privately held and the terms of the
transaction are not being disclosed. The transaction does not
affect Boeing's current financial guidance and is expected to close
by the end of the fourth quarter of 2010.
Tapestry Solutions of San Diego is a wholly owned subsidiary of
Boeing and forms the core of the Logistics Command and Control
(LogC2) subdivision of Defense & Government Services, an
operating division of Boeing Defense, Space & Security's Global
Services & Support business unit. Acquired by Boeing in 2008,
Tapestry provides custom software development, system engineering,
geographic information systems (GIS), field support, training,
consulting, support services, and modeling and simulation to the
U.S. military, other government customers and the private
sector.
A unit of The Boeing Company, Boeing Defense, Space &
Security is one of the world's largest defense, space and security
businesses specializing in innovative and capabilities-driven
customer solutions, and the world's largest and most versatile
manufacturer of military aircraft. Headquartered in St. Louis,
Boeing Defense, Space & Security is a $34 billion business with
68,000 employees worldwide. Follow us on Twitter:
@BoeingDefense.
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