Receive our newsletter – data, insights and analysis delivered to you
  1. News
March 25, 2020

L3Harris Technologies agrees to divest EOTech business

L3Harris Technologies has signed a definitive agreement to divest EOTech business to American Holoptics, an affiliate of Koucar Management.

L3Harris Technologies has signed a definitive agreement to divest EOTech business to American Holoptics, an affiliate of Koucar Management.

Financial details of the deal have not been disclosed.

EOTech has annual revenues of around $60m. It manufactures and supplies magnified field optics and accessories, holographic sighting systems for defence, law enforcement and commercial markets across the world.

L3Harris Technologies is set to complete the EOTech deal with American Holoptics in mid-2020, subject to customary closing conditions.

L3Harris Technologies offers advanced end-to-end solutions across air, land, sea, space and cyber domains for aerospace and defence markets to meet their mission-critical requirements.

Content from our partners
Small but mighty: How TSX attenuators benefit defence and space industries
Stopping power
Army Technology Excellence Awards 2021 - Winners Announced!

It has approximately $18bn in annual revenue, 50,000 employees, and customers in 130 countries.

A privately held firm in the US, American Holoptics is a subsidiary of Koucar Management, which made strategic acquisitions of Elite Defense and HEL Technologies to have a strong foundation of advanced optical science and weapons systems distribution.

In February,  L3Harris Technologies secured a multimillion-dollar contract from Air Force Life Cycle Management Center to develop a software platform that can enable analysts to easily use artificial intelligence (AI) to identify objects in large data sets.

As the US military and intelligence community handles significant amounts of data produced by remote sensing systems, automated searches using algorithms that can find pre-loaded images of objects makes identifying them easier. However, for these algorithms to be trained, real images are often unavailable either because they are rare or do not exist.

The L3Harris’ tool produces sample images, which can help train search algorithms to identify hard-to-find objects in the data. This facility makes it easier for military and intelligence community to embrace artificial intelligence.

L3Harris president for space and airborne systems Ed Zoiss said: “L3Harris is a premier provider of modelling and simulation capabilities that provide risk reduction for our customers who rely on advanced geospatial systems and data.

“Accelerating the use of AI will help automate analysis of large geospatial data sets so warfighters receive trusted data faster and more efficiently.”

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The defence industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Army Technology