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Textron Systems Acquires Innovative Survivability Technologies; Move Represents Significant Advancement in Precision Engagement and Vehicle Systems Capabilities.

PROVIDENCE, R.I. -- In a move to advance expanded capabilities in the areas of precision engagement and vehicle system technologies, Textron Inc. (NYSE: TXT) today announced that its Textron Systems unit has acquired Innovative Survivability Technologies, Inc. (IST), a privately-held supplier of innovative defensive systems to military and homeland security customers. IST, which had 2005 revenues of about $7 million, will become part of Textron Systems' Advanced Solutions Center (ASC) organization, which develops critical new technologies, leveraging customer needs and business opportunities across all Textron Systems operating units. Terms of the transaction were not disclosed.

Goleta, California-based IST works with academia, high technology companies and government laboratories to identify and integrate cutting-edge technologies in sensors, processors, materials and data processing to develop state of the art systems and products. The company specializes in the research and development of system design, integration and testing - in order to take concepts rapidly from conception and prototype testing to demonstration. IST operations will remain in Goleta.

"This acquisition aligns very well with our strategy to expand capabilities and broaden our suite of product offerings to military and homeland security customers," said Richard J. Millman, president of Textron Systems Corporation. "Not only does IST bring critical applications that will enable us to further enhance products like our acclaimed Armored Security Vehicle (ASV), but we now have access to new products and technological concepts that will allow us to strengthen our sensor base for precision engagement."

About Innovative Survivability Technologies

Innovative Survivability Technologies (IST) provides specialized research, development and rapid prototyping of complex electronic, optical and mechanical sensors and countermeasure systems. The IST name is well-known by the Armed Services for its highly innovative solutions to threats to both combat vehicles and personnel. IST is known for its ability to accelerate development to quickly address these threats and problems.

About Textron Systems

Textron Systems provides innovative technology solutions to meet the needs of the global aerospace and defense industries. The company supports military precision engagement and dominant maneuver with strike weapons, and mobility and surveillance systems. The Textron name is well-known in the areas of advanced weapons, surveillance systems, aircraft control components, specialty marine craft and armored vehicles. Textron Systems Corporation ("Textron Systems") is a wholly-owned subsidiary of Avco Corporation. Avco Corporation is wholly-owned subsidiary of Textron Inc. More information is available at

About Textron

Textron Inc. is a $10 billion multi-industry company operating in 33 countries with approximately 37,000 employees in continuing operations. The company leverages its global network of aircraft, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft, Jacobsen, Kautex, Lycoming, E-Z-GO and Greenlee, among others. More information is available at
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 19, 2006
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