L-3 Communications (NYSE:LLL) has 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.
Miteq 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. Together the two companies will make a stronger and more scalable supplier which will enable them to grow their customer base. The Miteq acquisition is expected to generate approximately $60 million in sales for the year ending December 31, 2015.
Miteq offers a broad product line of active and passive RF microwave components and low-power SATCOM products for space and military applications. The RF microwave product line includes low-noise and power amplifiers, mixers, solid-state switch assemblies, synthesizers, oscillators and multipliers. SATCOM products include components for airborne and Earth Stationsystems, as well as solid-state power amplifiers, low-noise amplifiers, uplink power control units and frequency converters.
Headquartered in New York City, L-3 employs approximately 48,000 people worldwide and is a prime contractor in aerospace systems and national security solutions. L-3 is also a leading provider of a broad range of communication and electronic systems and products used on military and commercial platforms. The company reported 2013 (revised) sales of $12.6 billion.
