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NEW YORK--(BUSINESS WIRE)--March 21, 2006-- State-of-the-art military and homeland security sensors from CyTerra Corporation and non-invasive security systems and portals from SafeView, Inc.
L-3 Communications (NYSE: LLL) announced today the acquisition of two companies that will add significant technologies to its broad range of military and homeland security products. L-3 has acquired CyTerra Corporation and SafeView, Inc. These acquisitions are both expected to be slightly accretive to L-3's earnings in 2006. The terms of these transactions were not disclosed.
"CyTerra and SafeView are initial steps in L-3's goal to consolidate the 'best of the best' high technology products companies in what is now a fragmented security market," said Frank C. Lanza, chairman and chief executive officer of L-3 Communications. "We believe that these are companies with superior technologies and advanced products that have significant growth potential. A synergistic product base to service a growing market, as well as marketing resources and research and development funding will enable CyTerra and SafeView, as part of L-3, to get to the next level."
"These two companies are leaders in threat detection technology and are highly synergistic with our existing Security and Detection Systems (S&DS) business," said Mr. Lanza. He noted that S&DS, with an installed base of more than 18,000 systems, is a leading supplier of mature and next-generation systems and technology products for aviation, rail and cargo screening, port and border inspection and facility and infrastructure security. L-3 also is a leader in intrusion detection and maritime and port security systems and products.
"Advanced security sensor technology will play a large part in products supporting homeland security and military markets across the board," continued Mr. Lanza, "and you will quickly see new L-3 products from the technologies that we are acquiring that are superior to anything on the market. These companies will also enable L-3 to provide total aviation and mass transportation security solutions to our customers."