L-3 Communications (NYSE: LLL) announced today that it has acquired HSA
Systems Pty Limited of Australia, a leading provider of geospatial,
marine and electronic systems for maritime and defense customers. HSA
has annual sales of approximately $10 million (AU$11 million). The
transaction closed on March 14, 2008.
“HSA is a significant addition to our global
maritime capability and fits well with our recently formed Marine and
Power Systems Group,” said Michael T.
Strianese, president and CEO of L-3 Communications.
HSA will be consolidated as a business unit within the L-3 Nautronix
division in Australia, strengthening its product and market position in
the Pacific Region. Mike Gallagher, managing director of L-3 Nautronix,
will lead the business, which extends L-3’s
global presence with offices in Fremantle, Sydney and Wollongong,
Australia, and Wellington, New Zealand.
L-3’s Nautronix operations provide wireless
long-range underwater communications, portable undersea test ranges,
diver computers and electronic console map displays. The acquisition of
HSA will enhance L-3’s current line of
networked undersea solutions and power and control systems to provide
fully integrated system solutions.
HSA compiles, produces and maintains nautical charts, and supplies
customized software and IT systems for the Australian Hydrographic
Services, the Royal Australian Navy and Land Information New Zealand.
The data collected and maintained by HSA is used by the maritime
industry to identify the details of ocean and coastal areas, including
the identification of navigational hazards, tides and currents, to
provide real-time information for vessel tracking.
Headquartered in New York City, L-3 Communications employs over 64,000
people worldwide and is a prime contractor in aircraft modernization and
maintenance, C3ISR (Command, Control,
Communications, Intelligence, Surveillance and Reconnaissance) systems
and government services. L-3 is also a leading provider of high
technology products, subsystems and systems. The company reported 2007
sales of $14 billion.
To learn more about L-3, please visit the company’s
web site at www.L-3Com.com.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
Except for historical information contained herein, the matters set
forth in this news release are forward-looking statements. Statements
that are predictive in nature, that depend upon or refer to events or
conditions or that include words such as “expects,”
“anticipates,” “intends,”
“plans,” “believes,”
“estimates,” “will”,
“could” and
similar expressions are forward-looking statements. The forward-looking
statements set forth above involve a number of risks and uncertainties
that could cause actual results to differ materially from any such
statement, including the risks and uncertainties discussed in the company’s
Safe Harbor Compliance Statement for Forward-looking Statements included
in the company’s recent filings, including
Forms 10-K and 10-Q, with the Securities and Exchange Commission. The
forward-looking statements speak only as of the date made, and the
company undertakes no obligation to update these forward-looking
statements.
|