US-based aerospace and defence company L3 Technologies has acquired Applied Defense Solutions (ADS) to support and bolster space mission capabilities in the country.
Subject to customary working capital adjustments, the acquisition has been completed for a purchase price of approximately $50m.
To be renamed L3 ADS, the business will deliver space systems mission planning, space exploration and satellite operations, and protection and resiliency to the US Department of Defense (DoD), in addition to the intelligence community, NASA and other customers.
L3 Technologies chairman, chief executive officer and president Christopher E. Kubasik said: “L3 ADS strengthens our business in the mission-critical aspects of space situational awareness, particularly in the area of multi-domain command and control, which is a key element of our country’s national security strategy objectives.
“This acquisition, along with our internal research and development investments, demonstrates our growth strategy of investing in capabilities, accelerating innovation and delivering integrated solutions for our customers.”
Headquartered in Columbia, Maryland, US, the business will have offices in Herndon, Virginia, and Colorado Springs, Colorado.
With the completion of the transaction, ADS is expected to generate approximately $15m in sales for the remainder of the current calendar year and around $50m for the next calendar year.
For this year, the transaction is expected to be earnings per share (EPS) neutral and will be accretive in the next year.
With nearly 31,000 employees across the world, L3 Technologies focuses on providing a wide range of communication, electronic and sensor systems used on military, homeland security and commercial platforms.