Star Technologies Inc, Sterling, Virginia, builder of array processors that were primarily used in body scanners built by General Electric Co Inc’s General Electric Medical Systems, has won $9.4m from the latter in settlement of a contract dispute, and is going to use some of the money to help it diversify by acquisition. Its first acquisition is Electronic Instrumentation & Technology Inc, also in Sterling – it says it has been looking all over the US for potential acquisitions! – and Star is expected to pay Electronic shareholders about $5m in cash and shares. Electronic Instrumentation & Technology, integrating medical products, industrial control, computers, and communications products, inter alia makes computerized scuba diving instrumentation and ultraviolet light meters, and has annual sales of about $20m.
