L-3 Acquires Mustang Technology Group, L.P.
Adds New Precision Engagement and Unmanned Systems Capabilities and Product
NEW YORK -- December 19, 2013
L-3 Communications (NYSE:LLL) 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
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.
Headquartered in New York City, L-3 employs approximately 51,000 people
worldwide and is a prime contractor in C^3ISR (Command, Control,
Communications, Intelligence, Surveillance and Reconnaissance) systems,
platform and logistics solutions, and national security solutions. L-3 is also
a leading provider of a broad range of electronic systems used on military and
commercial platforms. The company reported 2012 sales of $13.1 billion.
To learn more about L-3, please visit the company’s website at www.L-3com.com.
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information. Financial and other material information regarding L-3 is
routinely posted on the company’s website and is readily accessible.
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