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L-3 Communications Acquires IMC

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NEW YORK, Nov. 22 -- L-3 Communications announced yesterday that on Nov. 8, it acquired International Microwave Corp. (IMC), a provider of wireless communications, network support systems, information technology, defense communications and surveillance systems.

The total value of the transaction is approximately $40 million in cash, with additional contingent consideration not to exceed $5 million and dependent on the financial performance of IMC in 2003. L-3 said it expects the acquisition to contribute approximately $50 million to its sales in 2003.

L-3 recently took an equity stake in Millivision, a millimeter wavelength imaging company.

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Nov 2002
CommunicationsdefenseNews & Features

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