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Updated: July 8th, 2008 05:26 PM CDT

L-3 To Acquire SSG Precision Optronics

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Defense Daily
via NewsEdge Corporation

L-3 Communications [LLL] on Monday said it has agreed to acquire SSG Precision Optronics, a designer and supplier of optical components, sensors and subsystems for the space and tactical military markets, in a deal that complements its existing electro-optics businesses.

Terms of the deal were not disclosed although L-3 said it is expected to be slightly accretive to its earnings. SSG is expected to have annual sales of about $60 million.

SSG's products include airborne pointing and scanning stabilized mirrors, stabilized gimbals and stabilized lightweight multi-spectral telescopes. Its equipment is on the Space-Based Infrared-High program, the Joint Strike Fighter, the James Webb Space Telescope, the National Ignition Facility, and several classified space-based imaging initiatives. SSG also provides laser communications subsystems and broadband communications components.

L-3 Chairman and CEO Frank Lanza said that SSG's capabilities are in line with future government requirements, noting that it has the ability to produce transformational communications and hyperspectral imaging systems for airborne, unmanned aerial vehicle and space platforms. He also said the company is positioned to supply telescope solutions to the Missile Defense Agency and key subsystems to the upcoming Transformational Space Segment program.

SSG has facilities in Wilmington, Mass., and Richmond, Calif. The company will become part of L-3's Sensors and Simulation Group.

[Copyright 2006 Access Intelligence, LLC. All rights reserved.]

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