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.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[hlmsmlh] [scrtytrcs] [mrgrsacqstns]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.