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L-3 Communications Agrees To Acquire EOTech
New York (SPX) Sep 26, 2005 L-3 Communications announced last Thursday (Sep 22) that it has signed an agreement to acquire EOTech for approximately $49 million in cash, subject to customary closing conditions. The acquisition is expected to add approximately $25 million to L-3's sales for 2006 and be slightly accretive to L-3's earnings. The acquisition is expected to be completed in the fourth quarter of 2005. Headquartered in Ann Arbor, Michigan, EOTech designs, manufactures and markets electro-optical products and systems. Using advanced laser and holographic technology to enhance optical systems in target acquisition systems, the company produces holographic weapon sights for sale to both domestic and international military customers, as well as the homeland security and law enforcement markets. EOTech invented and manufactures the world's first holographic sighting system to interface with tactical small and medium caliber weapon platforms. Elite units in the military and law enforcement agencies around the world are rapidly adopting EOTech's advanced holographic weapons as their preferred and standard close quarter battle (CQB) optics for small arms. U.S. customers include the U.S. Army's Special Operations Command, the U.S. Navy, the U.S. Marine Corps, the U.S. Drug Enforcement Administration, as well as classified customers. The company's products are currently in use in Iraq and Afghanistan, as well as for homeland security applications. "EOTech provides L-3 with a technologically advanced product line of weapons sights and production capability that enhances our EO/IR business, and moves us forward in our strategy to expand our product base in this growing segment," said Frank C. Lanza, chairman and chief executive officer of L-3 Communications. "EOTech's operations are very complementary with our Brashear business and will create increased opportunities for L-3 in the special operations, special mission and law enforcement marketplaces." Community Email This Article Comment On This Article Related Links L-3 Communications SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express Read the latest in Military Space Communications Technology at SpaceWar.com
Unified Quest Aims To Refine Irregular Warfare
Fort Monroe VA (DOD) Jan 11, 2006Unified Quest 2006 is a four-phase war game taking place now through March in which Army Chief of Staff Gen. Peter Schoomaker expects to refine proficiencies in irregular warfare. |
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