Aspen Avionics acquires Accord Technology and AvValues LLC

Aspen Avionics announced today that it has acquired Accord Technology, LLC (AT) from Accord India and AvValues LLC of Phoenix, Arizona. The transaction was completed on June 19, 2015 using a combination of cash and securities. NEXA Capital Partners provided merger and acquisition financial advisory services to Aspen Avionics.

The acquisition has resulted in an expansion of the company's geographic footprint to include a new administrative and production facility in Phoenix, Arizona. John Uczekaj will continue to lead the company as president and chief executive officer. The name of the combined company remains Aspen Avionics.

Accord Technology will operate as an Aspen Avionics company continuing to supply Federal Aviation Administration (FAA) -approved Original Equipment Manufacturer (OEM) GPS solutions to the aerospace industry. Support of its current client base will carry on as usual with licensed production.

“Accord's expertise to design and develop solutions that meet NextGen and other performance-based navigation requirements, coupled with Aspen's display offering, create the opportunity to provide unique solutions for all aerospace segments,” said John Uczekaj, president and chief executive officer, Aspen Avionics.

“This is a perfect blending of two companies known for their innovative culture. Aspen and Accord share the same passion to develop aviation solutions that improve situational awareness and promote flight safety at an affordable price,” said Shenoy Raghavendra, Accord Technology chief executive officer.

Hal Adams, founder of AvValues has been named executive vice president of business development for the combined companies. He will be driving new business to include growing its highly successful NexNavTM product line.

“Our combination of innovation and capabilities is unmatched in the aviation industry with the potential to deliver even more affordable, intuitive fight deck and avionics solutions. This translates into meaningful benefits to owner/operators in all areas of manned and unmanned aviation,” said Hal Adams, executive vice president of business development.

Aspen Avionics is a leader in manufacturing glass cockpit displays for general aviation. Founded 10 years ago, more than 9,000 Aspen cockpit systems have been installed worldwide. Aspen Avionics is globally recognized for providing the general aviation marketplace with innovative and affordable products including its Evolution Flight Display SystemTM, and Connected PanelTM – the first certified wireless technology that communicates with onboard avionics systems.

Founded in 2008 Accord Technology's expertise lies in design, manufacture and support of Global Positioning System (GPS), with Satellite Based Augmentation Systems (SBAS) such as the USA's Wide Area Augmentation System (WAAS), receivers and sensors for Original Equipment Manufacturers (OEM) for all aerospace segments, on manned and unmanned platforms. Its NexNav GPS SBAS WAAS multiple-solutions product line revolves around three key receivers, NexNav Mini, NexNav MAX and the recently introduced NexNav Micro.