L-3 completes acquisition of electro-optical systems business

NEW YORK, 28 April 2008.L-3 Communications has finalized the acquisition of Northrop Grumman's Electro-Optical Systems (EOS) business for $175 million in cash. The acquired business, renamed L-3 EOS, is a provider of night-vision technology and electro-optical products for military, commercial, and public safety customers, and is expected to be accretive to L-3's earnings in 2008. The transaction closed on April 21, 2008.

Headquartered in New York City, L-3 Communications employs more than 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.