NEW YORK--(BUSINESS WIRE)--Jul. 2, 2018-- L3 Technologies (NYSE:LLL) announced today that it has acquired Applied Defense Solutions (ADS), a leading aerospace engineering, software development and space situational awareness company. The purchase price was approximately $50 million, subject to customary working capital adjustments. ADS is expected to generate approximately $15 million in sales for the remainder of calendar year 2018 and approximately $50 million for calendar year 2019. The transaction is expected to be EPS neutral for 2018 and accretive in 2019. Headquartered in Columbia, Maryland, with offices in Herndon, Virginia, and Colorado Springs, Colorado, the business will be renamed L3 ADS and provides the intelligence community, DoD, NASA and other customers with space systems mission planning, space exploration and satellite operations, protection and resiliency.
“L3 ADS strengthens our business in the mission-critical aspects of space situational awareness, particularly in the area of multi-domain command and control, which is a key element of our country’s national security strategy objectives,” said Christopher E. Kubasik, L3’s Chairman, Chief Executive Officer and President. “This acquisition, along with our internal research and development investments, demonstrates our growth strategy of investing in capabilities, accelerating innovation and delivering integrated solutions for our customers.”
Headquartered in New York City, L3 Technologies employs approximately 31,000 people worldwide and is a leading provider of a broad range of communication, electronic and sensor systems used on military, homeland security and commercial platforms. L3 is also a prime contractor in aerospace systems, security and detection systems, and pilot training. The company reported 2017 sales of $9.6 billion.
To learn more about L3, please visit the company’s website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the company’s website and is readily accessible.
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Source: L3 Technologies