Acheron Technologies
 | |
| Public | |
| Traded as | CRX: 009570, NYFE: ACT |
| Industry | Conglomerate |
| Genre | Aerospace Defense Information security |
| Founded | 1965 (as Comtex, Ltd.) |
| Founder | Bushrod Cadwallader |
| Headquarters | Cyrene , |
Area served | Worldwide |
Key people | Richard Farquhar (CEO) |
| Products | RBM-233 Phantom SST-721 torpedo Tanit-III |
| Revenue | NSD$148.5 billion |
| NSD$12.4 billion | |
| NSD$8.9 billion | |
| Total assets | NSD$194.5 billion |
| Total equity | NSD$45.2 billion |
Number of employees | 174,324 (2013) |
| Divisions | Advanced Projects Group Aerospace Research Electronics & Computing Information Systems Naval Design Group |
| Subsidiaries | Acheron Far East Acheron North America Carthage Launch Group (with Cordoba Aerospace) |
| Website | AcheronTech.co.cth |
Acheron Technologies is a major Carthaginian multi-national defense contractor and industrial corporation specializing in advanced electronics, aerospace, and maritime systems.
Established in 1965 as Comtex, Ltd. by Bushrod Cadwallader as a manufacturer of early computer systems for corporate and government customers, Acheron assumed its current name in 1984 following the retirement of Cadwallader to emphasize a greater emphasis on defense projects. In 1994, it sold its consumer computing division to Bodastart IntelliMach to focus on defense and government contracting. As of 2013, the company has over 170,000 employees worldwide and is composed of five primary divisions with subsidiaries in other countries to coordinate contracting with local governments. It is the 12th largest defense contractor by gross revenue in Carthage and derives over 90% of its revenue from defense contracts.
History
Acheron Technologies was originally founded as Comtex, Ltd. by Bushrod Cadwallader, a computer engineer formerly employed by the Electro-Computing Division of Santos de Cuba. The company began selling large mainframe computers to corporate customers and won its first government contract in 1969. Although initial designs were produced with core memory, Comtex was one of the first companies to adopt the new semiconductor technology in the 1970s, and profited significantly from contracts to develop compact fire control systems for Defense Forces vehicles through the 1975 Northern War. As a result of significantly increased revenue from defense contracts, a separate Defense Systems division was established in 1974 while Comtex continued courting corporate contracts through its mainstream Corporate Computing division.
Following the end of the Northern War, Comtex was cash-rich from defense contracts but faced an increasingly competitive market for corporate systems, leading to a two-pronged strategy to maintain growth and profitability. Comtex acquired struggling aircraft manufacturer Washburne Transport in 1978 to expand into the aerospace sector, and created a new consumer division in 1979 to begin marketing electronics to the masses. Washburne Transit had been experiencing financial difficulties in the post-war era with sharply reduced defense revenue, and Comtex's control changed the company's focus from transport aircraft to more advanced aerospace products, including fighter and bomber aircraft.
1980s
Washburne Transport, later renamed the Aerospace Research division, tendered a bid on the Air Forces' Low-Observable Reconnaissance Aircraft (LORA) program, using Comtex's computing background to develop advanced radar cross section simulators. Despite the advances made, the Comtex bid was passed over in favor of rival Cordoba Aerospace, although the program itself was cancelled in 1987 before any aircraft entered service. Following a successful bid for the AGB-31 ground attack aircraft project in 1984, the company formally renamed itself as Acheron Technologies to reflect its increased emphasis on its non-computer product lines. In 1988, the Aerospace Research division won a bid to replace the radar in the AEF-32 and -33 fighters, estimated at $15.7 billion over four years.
The Comtex name was maintained by the personal computing division, which began marketing computers direct to consumers. Previous marketing had been aimed at corporate and government clients, but the sharply falling cost and size of components and increasing consumer interest generated increasing demands for consumer sales. The Comtex CR-1500 was released in 1981 and sold millions of units until replaced in 1985. With strong third party support, aggressive pricing, and effective marketing, the CR-1500 became an immensely profitable line of business for the later-renamed Acheron. Updated and improved models would continue to be released throughout the remainder of the 1980s, including the CR-1600, CR-2000, and CR-2100X.
1990s
The retirement of Bushrod Cadwallader in late 1983 left Acheron in the hands of CEO Warren Rainier, a former executive of Washburne Transport. Acheron found itself in two major but largely separate markets, selling consumer electronics through its Comtex division and defense equipment through its other branches. Determining that the two divergent product lines were diluting company focus and resources, the Comtex division was sold in 1994 to Bodastart IntelliMach, which retained the Comtex branding for its consumer PCs while absorbing the business end into its existing product lines. Acheron itself continued solely as a defense and government contractor.
Using cash from the sale, Acheron began investment into maritime contracting, purchasing the Rieman Shipyards in Conakry to bid on warship contracts from the Punic Navy. Among the contracts received was for the development of the Type-27 replacement torpedo, later dubbed the SST-721 Master Spark. The Advanced Projects Group also successfully bid on the Advanced Low-Observable Bomber (ALOB) program, benefiting from the research invested into stealth technology for the previous LORA program and developed the integrated radar suite for the RFM-202 Shaheen.
2000s
In 2002 CEO Warren Rainier retired, appointing former CFO Richard Farquhar as his replacement. Acheron successfully won the bid for the FAI-337 Phantasmagoria radar suite for the RFM-202 Shaheen and the Phantasmagoria-L variant for the RFM-203 Kengewa. With ALOB, now designated the RBM-233 Phantom now moving into production, the company also won bids to supply electronics and processing components to the Navy for integration into the new generation of NP21 warships.
In 2007 the company shifted its corporate headquarters from its former location in Intombwe to Cyrene on the Mediterranean coast for both tax and political influence purposes. As of 2008, the move has been fully completed.
Corporate outline
Since 1996, Acheron has been divided into five primary divisions: the Advanced Projects Group, Aerospace Research, Electronics & Computing, Information Systems, and the Naval Design Group.
Advanced Projects Group
The Advanced Projects Group is an independent research unit primarily responsible for technology development and the design of advanced vehicle prototypes for military contracts. Due to the nature of its research and work on classified projects, the group works largely in secret, with little information publicly disclosed. It is known that the group is active in technological development, in particular moving designs to acceptable levels of technological readiness and experimenting with more advanced prototypes. The group's most famous design is the RBM-233 Phantom stealth bomber, although the unit has also bid on a number of other programs including the Janissary UCAV and the avionics outfit of the RFM-202 Shaheen and RFM-203 Kengewa. Unlike other divisions, the Advanced Projects Group has no production mandate beyond prototypes, with completed designs shifted to other divisions for manufacture with ARG oversight.
Aerospace Research
The Aerospace Research division is responsible for the development and manufacture of aircraft, rockets, and satellites. The group has bid on a number of contracts, and is the primary manufacturer of the QMU-50 Petrel series of utility and attack helicopters. Despite its name, the operation of Acheron's aerospace production facilities falls within the division's mandate, and it is responsible for the production and material support of Acheron-produced aerospace systems including the Tanit-III space launch system (in conjunction with Cordoba Aerospace) and the RBM-233 Phantom bomber. It also produces the thrust motors for a number of Carthaginian missiles, including the SAI-774 Sayaka.
Electronics & Computing
The Electronics & Computing division is one of two descendants of Comtex's original core business in computing and electronics, and provides hardware solutions to government and military customers. It develops tailored computing solutions for a multitude of platforms, from warships to aircraft to munitions. The division maintains a number of semiconductor fabrication plants to supply its demands, and also develops and markets radar and detection systems. It is the largest manufacturer of radar systems for the Carthage Air Forces.
Information Systems
The Information Systems division is the other descendant of the core Comtex business, and is primarily focused on developing network solutions for military clients. Among its major products are network security products and software as well as the development of interfaces for military equipment. As a result of its focus, the Information Systems division works closely with the Electronics & Computing division, although the Information Systems division has a greater emphasis on supportive technologies over direct battlefield applications.
The Naval Design Group is responsible for the design and production of maritime products, including warships as well as weapons including the SST-721 torpedo. Founded in 1897 as the Rieman Shipyards, the shipyard and its design house were acquired in 1994 to expand Acheron's market into maritime defense contracting. While initial design work for the SST-721 torpedo was carried out by the Advanced Projects Group, responsibility for design and production was shifted to the new Naval Design Group following full company integration in 1998.