WALTHAM, Mass., Nov. 10 -- Raytheon Co. has announced the sale of its Raytheon Commercial Infrared (RCI) business to L-3 Communications Corp. for approximately $42 million in cash.
The acquisition is expected to add approximately $50 million to L-3's sales for 2005. The business will be renamed L-3 Communications Infrared Products (L-3 Infrared Products).
RCI, based in Dallas, Texas, designs, manufactures and sells uncooled thermal imaging products primarily serving commercial markets including fire, security, public safety and transportation. It currently provides handheld, stationary and vehicle-mounted camera systems for a variety of public safety, transportation and first responder and rescue services. These systems are used for law enforcement, search and rescues, natural resource protection, continual surveillance and infrastructure protection. Key customers include the US Air Force, the FBI, the US Border Patrol and OEMs. The company's customer base includes government and industrial customers in North America as well as Europe and Asia.
"This is a growing business with a first-class technology base," said Frank C. Lanza, chairman and CEO of L-3 Communications. "There are many applications of lower-cost, uncooled thermal imaging technology within the military, homeland security and commercial marketplaces, and we look forward to expanding L-3 Infrared Products' market penetration into these areas. The uncooled sensors are complementary to our precision IR/EO (infrared/electro-optic) stabilized sensors, which are used on many military, US Coast Guard and law enforcement platforms."
Lanza also said that cameras, along with L-3's present uncooled product base, will expand L-3's penetration of the growing Department of Defense and Homeland Security market.
Raytheon said it will continue to develop and produce uncooled thermal imaging systems for its military customers.
For more information, visit: www.L-3com.com