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L-3 Completes Acquisition of Electro-Optical Systems Business
April 22nd, 2008 No comments
L-3 Communications (NYSE: LLL) announced today that it completed the acquisition of Northrop Grumman’s Electro-Optical Systems (EOS) business for $175 million in cash. The acquired business, renamed L-3 EOS, is a leading provider of night vision technology and electro-optical products for military, commercial and public safety customers, and is expected to be accretive to L-3’s earnings in 2008. The transaction closed on April 21, 2008. Headquartered in New York City, L-3 Communications employs over 64,000 people worldwide and is a prime contractor in aircraft modernization and maintenance, C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems and government services. L-3 is also a leading provider of high technology products, subsystems and systems. The company reported 2007 sales of $14 billion.
To learn more about L-3, please visit the company’s Web site at www.L-3Com.com
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