NEW YORK, April 3, 2006 -- L-3 Communications said today it has agreed to acquire SSG Precision Optronics Inc. (SSG), subject to customary closing conditions and regulatory approvals. Financial terms of the transaction were not disclosed.
L-3 said the business, from which it expects annual sales of about $60 million, will be included in its Sensors and Simulation Group, which is reported in its Specialized Products segment.
SGG, which has facilities in Wilmington, Mass., and Richmond, Calif., specializes in optics, telescopes and precision optical subsystems for government, military and commercial customers. Its customers include Department of Defense (DoD) prime contractors and government agencies and laboratories; products include airborne pointing and scanning stabilized mirrors, stabilized gimbals and stabilized lightweight multispectral telescopes. It provides telescope equipment to the Space-Based Infrared System-High initiative, mirror assemblies for the laser protection system for the Joint Strike Fighter and optical products to the James Webb Space Telescope and the National Ignition Facility and several classified space-based imaging initiatives. It is also a supplier of laser communications subsystems and broadband communications components.
"With technologies that are key enablers of lightweight pods, turret and gimbal electro optical (EO) sensor systems, SSG is an excellent strategic fit for L-3," said Frank C. Lanza, L-3's chairman and CEO. "SSG complements our Wescam, Brashear and Sonoma electro-optics businesses, and we look forward to adding SSG's technologies to further develop L-3's high performance cost-effective EO sensor portfolio for ground, airborne and space applications."
Lanza said "SSG's capabilities are synergistic with future government requirements," and that it "has the ability to produce transformational communications and hyperspecteral imaging systems for airborne, unmanned aerial vehicle and space platforms. SSG also is well-positioned to provide telescope solutions to Missile Defense Agency initiatives, as well as key subsystems to the upcoming Transformational SATCOM Space Segment program."
L-3's products and services are used in aerospace and defense platforms, and it supplies systems and products for secure networked communications and communication products, mobile satellite communications, information security systems, shipboard communications, naval power systems, missiles and munitions, telemetry and instrumentation and airport security systems.
For more information, visit: www.L-3com.com