L-3 completes Miteq acquisition
L-3 Communications completed its acquisition of Miteq for $41 million on 21 January, subject to customary adjustments. Its Narda Microwave-East business will be combined with Miteq to form L-3 Narda-Miteq.
L-3 Narda-Miteq will offer Miteq's specialised RF microwave products and solid-state SATCOM components for the US military, government agencies, prime contractors and commercial customers. The acquisition is expected to generate approximately $60 million in sales for the year ending 31 December 2015.
John Mega, president, L-3 Communication Systems, said: 'Miteq adds key products, technical capabilities and other synergies, strong engineering talent and new customers to L-3's Advanced Communications sector within our Communication Systems segment.'
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