L-3 Acquires MITEQ
Hauppauge, NY, January 23,2015-- L-3 Communications (NYSE:LLL) announced today that it acquired the assets of MITEQ, Inc. for U$ 41 million..The business will be combined with L-3’s Narda Microwave-East business located in Hauppauge, N.Y., and the new organization will be called L-3 Narda-Miteq.
The Miteq business develops and manufactures specialized RF microwave products and solid-state SATCOM components that complement the existing Narda product line according to the company. The combined L-3 Narda-Miteq business will employ approximately 700 people, providing products for the U.S. military, government agencies, prime contractors and commercial customers. The Miteq acquisition is expected to generate approximately US in sales for the year ending December 31, 2015.
“Miteq adds key products, technical capabilities and other synergies, strong engineering talent and new customers to L-3’s
Headquartered in New York City, L-3 employs approximately 48,000 people worldwide and is a prime contractor in aerospace systems and national security solutions. L-3 is also a leading provider of a broad range of communication and electronic systems and products used on military and commercial platforms. The company reported 2013 sales of US$ 12.6 billion.
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