Whittaker Corp. Sells Division

Simi Valley-based defense contractor Whittaker Corp. announced Wednesday the sale of its defense electronics division to Condor Systems Inc. of San Jose for an undisclosed sum.

The sale, which ended several months of discussion between the defense firms, was estimated by industry sources to be worth close to $20 million.

Whittaker Corp. will use the money to help pay off more than $115 million in debt.

“It was a good thing for us and a good thing for them,” said Whittaker spokesman John Otto. “We’ve been exploring this for some time and Condor is certainly excited about this acquisition.”

Whittaker Corp. has been a longtime member of the Simi Valley business community and has specialized in designing innovative fluid control and fire safety systems for aerospace and industrial applications.

Before the sale, the defense electronics division employed about 100 workers.

Gary Viljon, a financial manager for Condor Systems, said fewer than five jobs will be lost as a result of the transaction.

According to Viljon, of special interest to Condor Systems was Whittaker’s recent development of the Short-stop Electronic Protection System, which intercepts and detonates incoming artillery and holds promise for a lucrative government contract.

That, along with several other innovative technologies under development, made the division an attractive addition, Viljon said.

“Basically, it fit in with our portfolio very well,” Viljon said. “We’ve got an excellent synergy and we will complement each other well.”

He added that Condor Systems will be making large infusions of cash into the defense electronics division and may add jobs in the future.