January 31, 2006
L-3 completes SAM Electronics acquisition
L-3 Communications (NYSE: LLL) has completed the acquisition of SAM Electronics GmbH for approximately $150 million in cash.
The acquired business, renamed L-3 SAM Electronics GmbH (L-3 SAM), is expected to add approximately $290 million to L-3's sales for 2006.
L-3 SAM will report to L-3's Power and Control Systems Group.
Headquartered in Hamburg, Germany, L-3 SAM is a manufacturer and supplier of maritime electrical and electronic systems to shipyards, shipping companies, international navies and commercial shipyards.
Products include electrical power packages, electric drives and propulsion systems, automation systems, navigation and communication equipment and maritime services.
The company also provides turnkey installation of its products. L-3 SAM's substantial market share in commercial shipbuilding is a major expansion of L-3's customer base and adds to L-3's communication product offerings for military and commercial use.
Headquartered in New York City, L-3 Communications is a leading provider of Intelligence, Surveillance and Reconnaissance (ISR) systems, secure communications systems, aircraft modernization, training and government services.