# Concurrent Technologies to acquire Phillips Machine & Welding's aerospace division

Concurrent Technologies Plc entered a conditional agreement to acquire the entire issued share capital of Phillips Machine & Welding Company, Inc for US$3.375 million, with the machine shop division being transferred out prior to completion, leaving the Aerospace and Military division.

- Type: Acquisition
- Announced: 2023-08-16
- Where: United States
- Value: $3.38M
- Status: announced
- Products: embedded computer systems for military and aerospace
- Sectors: [Aerospace Components](https://endata.com/sectors/aerospace-components.md)

## Companies

- [Concurrent Technologies Corporation](https://endata.com/companies/27958.md) (acquirer)
- [Phillips Machine & Welding Company, Inc](https://endata.com/companies/72083.md) (target)
- [Phillips Aerospace](https://endata.com/companies/72451.md) (target)

## Sources

- [investegate.co.uk](https://www.investegate.co.uk/announcement/rns/concurrent-technologies--cnc/proposed-acquisition-and-notice-of-general-meeting/7698325), 2023-08-16: "The Concurrent Technologies directors believe that the Acquisition will progress the Company's strategic ambitions in the Systems market."
- [investegate.co.uk](https://www.investegate.co.uk/index.php/announcement/rns/concurrent-technologies--cnc/acquisition-of-phillips-aerospace-/7737608), 2023-09-06: "The Acquisition supports the Company's strategic goals of adding US based manufacturing to its existing capabilities whilst continuing to a greater focus on the systems market in response to customer demand."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.