L-3 Agrees to Acquire Micreo Limited
September 13, 2016 | L-3 CommunicationsEstimated reading time: 1 minute
L-3 Communications announced today that it has entered into a contract to acquire Micreo Limited, a specialized Electronic Warfare subsystems provider in Australia. The acquisition is expected to be completed during September 2016 following the satisfaction of standard closing conditions. Following the acquisition, Micreo Limited will be integrated into the Electronic Systems Segment and will be renamed L-3 Micreo. Micreo is projected to generate AUD$35 million (USD$27 million) in sales for the year ending December 31, 2017 and to be accretive to L-3’s earnings.
Based in Brisbane, Australia, Micreo specializes in solutions that utilize high-performance microwave, millimeter wave and photonic technology that complements L-3’s wide range of sensors and will strengthen L-3’s development of future products in the higher EW RF bandwidth. The company’s unique, patented products are market-ready for ISR and EW applications, and it currently supports a variety of airborne, land and security programs in Australia. The business also has counter-IED capabilities that will specifically enhance L-3’s existing range of man-portable and vehicle electronic counter measures (ECM) equipment. Micreo has approximately 70 employees.
“As part of L-3, Micreo will expand our technical expertise and offerings, providing immediate synergies with L-3 products as well as adjacent growth opportunities across our existing business,” said Michael T. Strianese, L-3’s Chairman and Chief Executive Officer. “Importantly, this addition will help drive L-3’s international growth, while providing cross-selling opportunities in key markets.”
“L-3 Micreo will enhance our core business in Australia, supporting multiple L-3 segments,” added Christopher E. Kubasik, L-3’s President and Chief Operating Officer. “In addition to our ongoing SATCOM, Maritime, Warrior Systems, Aviation and aircraft modification programs, Micreo will add new in-country resources for our growing customer base in Australia and the Asia-Pacific region.”
About L-3
Headquartered in New York City, L-3 employs approximately 38,000 people worldwide and is a leading provider of a broad range of communication and electronic systems and products used on military and commercial platforms. L-3 is also a prime contractor in aerospace systems. The company reported 2015 sales of $10.5 billion.
Suggested Items
Cicor Records Solid Growth in Q1
04/16/2024 | CicorThe Cicor Group continued to grow in the first three months of the year. Quarterly sales increased by 11.8% to CHF 107.3 million compared to the first quarter of the previous year (Q1/2023: CHF 96.0 million).
TT Electronics Awarded Contract with Kongsberg Defence and Aerospace
04/11/2024 | TT ElectronicsTT Electronics, a leading provider of global manufacturing solutions and engineered technologies, announced today that its Fairford UK business has been awarded a new contract with long-standing customer Kongsberg Defence and Aerospace (Kongsberg) for the production of complex cable harness solutions.
Cicor Successfully Completes Acquisition of TT Electronics IoT Solutions Ltd.
04/03/2024 | CicorThe Cicor Group has successfully completed the acquisition of TT Electronics IoT Solutions Ltd. with three production sites in the UK and China.
Absolute EMS Successfully Recertifies ISO 9001:2015 and AS9100 Standards
03/26/2024 | Absolute EMS, Inc.Absolute EMS, Inc., an award-winning EMS provider of turnkey contract manufacturing services, is proud to announce the successful recertification of its ISO 9001:2015 and AS9100 Rev D SAE International Aerospace Standards.
Arlon EMC Receives IPC-4101 QPL Recertification
03/20/2024 | Arlon Electronic MaterialsArlon Electronic Materials has successfully completed an intensive two-day recertification audit by IPC Validation Services that examined Arlon’s manufacturing processes and testing procedures to assure that they are in conformance to the requirements of IPC-4101E-WAM1, the Specification for Base Materials for Rigid and Multilayer Printed Boards.