A nearly 20-year-old Colorado Springs engineering company has a new out-of-state owner, but will retain its local workforce and continue to call the city home.
Colorado Engineering Inc., which provides radio frequency and high-performance computing services and technology for commercial, industrial, automotive and military customers, has been acquired by CAES, an Arlington, Va.,-based defense and aerospace contractor.
Terms of the deal, completed last week, weren't disclosed.
The acquisition will mean little change for Colorado Engineering, said Colleen Cronin, a spokeswoman for CAES, also known as Cobham Advanced Electronic Solutions.
Colorado Engineering will keep its nearly 100 employees and its operation in the Springs, she said; the workforce also might grow in the future, though there are no specific hiring plans at this time. The company has offices on the city's north side, at 1915 Jamboree Drive near the Chapel Hills Mall.
Owners Nancy and Larry Scally, who launched Colorado Engineering in 2003, will continue to oversee its operation as it becomes part of CAES and will lead CAES' advanced technology and engineering team, Cronin said.
"They're still operating in the same fashion with the same leadership as they have before last week," Cronin said of Colorado Engineering. "They're now going to become part of our missile systems division — a product line or area within our company."
Eventually, Colorado Engineering's name and website will change to that of CAES, she added.
Colorado Engineering officials couldn't be reached for comment.
As a precursor to the acquisition, CAES and Colorado Engineering had formed a partnership this year that matched the companies' areas of expertise.
In May, they announced a "strategic alliance," in which Colorado Engineering and CAES said they'd jointly develop "advanced technology applicable to missile seekers, datalinks, electronic warfare systems and next generation radar and communications systems."
The alliance allowed engineering teams from the companies "to agilely collaborate on critical projects for aerospace and defense customers."
Now, as part of the acquisition, Colorado Engineering's expertise in machine learning and artificial intelligence, among other specialties, will benefit CAES and help broaden its offerings, Cronin said.
"They have a very good, strong customer relationship that we can work together on," she said.
CAES also has manufacturing capabilities that will benefit Colorado Engineering, Cronin said.
"It's really a great combination of the two," she said. "It's kind of like a natural marriage, if you will. And we can definitely learn, CAES can learn and grow. We can grow better together."