L-3 Communications acquires Raytheon Commercial Infrared
NOVEMBER 16--L-3 Communications has acquired the Raytheon Commercial Infrared (RCI) business of Raytheon Company for approximately $42 million in cash. The acquisition is expected to add approximately $50 million to L-3's sales for 2005. The business will be renamed L-3 Communications Infrared Products (L-3 Infrared Products).
Located in Dallas, TX, L-3 Infrared Products is a leading producer of uncooled thermal imaging products for the public safety, fire and rescue, security, transportation, and industrial markets. L-3 Infrared Products has been a pioneer in developing the commercial market for thermal imaging products and is a market leader in the production of uncooled thermal infrared detectors and imaging systems. The company's customer base includes both government and industrial customers in North America, as well as Europe and Asia. L-3 Infrared Products currently provides hand-held, stationary, and vehicle-mounted camera systems for a variety of public safety, transportation, and first responder and rescue services. These systems are used for law enforcement, search and rescues, natural resource protection, continual surveillance, and infrastructure protection. Key customers include the US Air Force, the Federal Bureau of Investigation, the US Border Patrol, and OEMs.
"This a growing business with first class technology base," said Frank C. Lanza, chairman and chief executive officer of L-3 Communications. "There are many applications of lower-cost, uncooled thermal imaging technology within the military, homeland security, and commercial marketplaces, and we look forward to expanding L-3 Infrared Products' market penetration into these areas. The uncooled sensors are complementary to our precision IR/EO (Infrared/Electro Optic) stabilized sensors that are used on many military, US Coast Guard, and-law enforcement platforms."
Headquartered in New York City, L-3 Communications is a provider of Intelligence, Surveillance, and Reconnaissance (ISR) systems, secure communications systems, aircraft modernization, training and government services and is a merchant supplier of a broad array of high technology products. Its customers include the Department of Defense, Department of Homeland Security, selected US government intelligence agencies, and aerospace prime contractors.
