Com Dev To Buy Passive Microwave Devices Line From L-3
[Satellite Today – 2-14-08] Com Dev USA LLC will acquire the passive microwave devices product line of L-3 Communications Electron Technologies Inc. from L-3 Communications for $12.2 million, Com Dev announced Feb. 12.
Originally a unit of Hughes Electronics Corp, the business was purchased by Boeing in 2000 and sold to L-3 Communications in early 2005. The unit has produced components such as multiplexers, filters and switches that have been used on more than 100 U.S. satellite programs, and the acquisition includes more than 100 patents.
"The acquisition of a business with an established revenue stream accelerates our entry into the U.S. government space market and vaults Com Dev into a leadership position among U.S. suppliers of passive microwave equipment for space," John Keating, CEO of Com Dev International, said in a statement. "We think this business is a great fit with our core capabilities and strategic objectives, and we plan to grow it aggressively."
The transaction, which is subject to regulatory approval, is expected to close within the next three months. The final purchase price will be subject to certain closing adjustments.