Italian optics firm Beretta acquires two U.S. companies

(AGI) Rome, Jan 4 - Beretta Holding, through its German subsidiary Steiner, has acquired two companies in the United States: STS, based in Beavercreek, Ohio and Diffraction Ltd, based in Burlington in Vermont, both owned by the O'Gara Group. The two companies, Beretta reported, offer solutions in the field of night vision and related technologies. The acquisitions are a strategic complement to the Group's strategy in optoelectronics, and include products that are mainly used by the special forces of major Western countries. In the U.S. they are used by all military forces and several government and police agencies, and they are also used by agencies in Canada, the UK, France, Germany, Italy, France, Switzerland, and Norway, etc.. The acquisition was completed on Dec. 31 and was wholly funded by the Group without the use of external resources. STS and Diffraction further strengthen Beretta Holding in optoelectronics, which already accounts for about 15 percent of total Group revenues, with an offer that includes a variety of products and solutions in the field of pointing optics, binoculars, laser pointers and portable lighting devices. The acquisition is expected in the near future to yield a significant increase of technology and production synergies in the design and marketing of new products and solutions in a sector with high technological content. The Group will also continue to look at further operations for growth and integration. A further strategic value of the operation is the strengthening of its presence in the U.S., where the Group already generates over 50 percent of its turnover and where it is completing investments for the transfer of the activities of Beretta USA to a new site in Tennessee. "Through the acquisition of STS and Diffraction our group has taken a key step in its growth plan towards a leadership position in the field of optoelectronics," said Peter Gussalli Beretta, President and CEO. "We will continue our process of internationalisation and investment in R&D to support the growth of all group companies and to design increasingly innovative and competitive products and solutions." (AGI) . .