NEW YORK, N.Y., 4 April 2006. L-3 Communications has agreed to acquire SSG Precision Optronics, Inc. (SSG), subject to customary closing conditions and regulatory approvals.
SSG has facilities in Wilmington, Mass., and Richmond, Calif., and specializes in optics, telescopes, and precision optical subsystems for government, military, and commercial customers.
SSG designs and manufactures optical components, sensors, and subsystems for the space and tactical military markets. SSG's customer base includes Department of Defense (DoD) prime contractors, in addition to government agencies and laboratories.
SSG provides optical systems and telescopes for space, missile, and airborne applications. The company's products include airborne pointing and scanning stabilized mirrors, stabilized gimbals, and stabilized lightweight multi-spectral telescopes.
SSG currently provides telescope equipment to the SBIRS-High initiative, mirror assemblies for the laser protection system for the Joint Strike Fighter, and optical products to the James Webb Space Telescope and the National Ignition Facility, as well as to several classified space-based imaging initiatives.
Financial terms of the transaction have not been disclosed. The business is expected to have annual sales of approximately $60 million, and will be included in L-3's Sensors and Simulation Group, which is reported in L-3's Specialized Products reportable segment.
