L-3 Communications announced that it acquired the assets of MITEQ, Inc. on January 21, 2015 for $41 million, subject to customary adjustments. The business will be combined with L-3’s Narda Microwave-East business located in Hauppauge, N.Y., and the new organization will be called L-3 Narda-Miteq.
The Miteq business develops and manufactures specialized RF microwave products and solid-state SATCOM components that complement the existing Narda product line. The combined L-3 Narda-Miteq business will employ approximately 700 people, providing products for the U.S. military, government agencies, prime contractors and commercial customers. The Miteq acquisition is expected to generate approximately $60 million in sales for the year ending December 31, 2015.
“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,” said John S. Mega, president of L-3 Communication Systems. “Together, Narda-Miteq is a stronger and more scalable supplier that creates cross-selling opportunities and helps us build strategic partnerships with our expanding customer base.”
Leave a Reply