Brazilian planemaker Embraer (NYSE:ERJ) is about to get a little bit bigger.
On Wednesday, Embraer announced that its Defense & Security business has agreed to buy the 50% of Atech Negocios em Tecnologia S.A. that it does not already own, becoming the company's sole owner. Atech sells strategic command, control and intelligence solutions, and provides expert consulting services, as well as technical and logistical support, in the airspace management, air traffic control, and defense spheres.
Embraer did not provide a deal value for this acquisition, nor any details on Atech's annual sales or profits. It is known, however, that Embraer paid $22.8 million to acquire its initial 50% stake in the company back in April 2011. Assuming at least some growth in the business over the past two years, a constant price-to-sales ratio, and the likely need to pay a control premium for total ownership, today's acquisition likely cost Embraer a bit more than $23 million.