L-3 Acquires HSA Systems Pty Limited of Australia
Acquisition expands global presence
NEW YORK--(BUSINESS WIRE)--March 16, 2008--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.
CONTACT: L-3 Communications Corporate Communications, 212-697-1111 or Australian Contact: L-3 Nautronix Jacki-Lee Gillett, +61 (0)8 9430-0000 +61 419-998-805 Marketing and Communications Officer SOURCE: L-3 Communications