L-3 Acquires Mustang Technology Group, L.P.
L-3 Communications announced effective today, that it has acquired Mustang Technology Group, L.P. The business, now named L-3 Mustang Technology, develops and manufactures radar-based sensors and systems used in precision-guided weapons, electronic warfare, unmanned systems and other military applications. Headquartered in Plano, Texas, L-3 Mustang employs approximately 115 people and its products are used by the U.S. military, government agencies and prime contractors. The business is expected to generate $36 million in sales for the year ending December 31, 2013.
“Mustang adds key capabilities, technical synergies, proprietary technologies and new customers to L-3’s existing Precision Engagement business in our Electronic Systems segment,” said Michael T. Strianese, L-3’s chairman, president and chief executive officer. “This is a terrific acquisition, which expands L-3’s DoD and classified business base, and we look forward to integrating Mustang’s technologies into L-3’s existing proprietary fuzing and ordnance and unmanned systems products. The results for L-3 customers will be market-disrupting products and product enhancements, which will improve mission effectiveness of guided munitions, as well as a new portfolio of solutions.”
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Founded in 1999, L-3 Mustang Technology offers a diverse and proven technology collection of software-defined radar and RF (radio frequency) sensors and systems, with proprietary capabilities in radar-based seeker, proximity fuze, hostile fire indicating and ISR (intelligence, surveillance and reconnaissance) sensor applications. The company’s products are on the leading edge of the current and next generation of U.S. weapon systems requirements.
Source : L-3 Communications Holdings Inc. (NYSE: LLL) - view original press release
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