Emcore to Acquire L3Harris Space And Navigation Business

Emcore’s headquarters in Alhambra, California. Photo: Emcore

Emcore Corp. on Tuesday said it has agreed to acquire the Space and Navigation business of L3Harris Technologies for $5 million in cash in a deal that expands its fiber optic gyroscope (FOG) product suite into the markets for strategic grade and space-qualified systems.

The acquisition is expected to close by the end of June. For L3Harris, the sale is part of its exit of non-core businesses, which is nearly complete. L3Harris said in a statement to Via Satellite on Wednesday that the Space and Navigation business provides guidance and control systems and is a major supplier of high precision pointing, guidance, control, and positioning equipment for satellites, fire control, digital battlefield solutions, and launch vehicles.

“We will also gain a technical team with a sterling track record of development and production of high-performance FOGs, ring laser gyros, and reaction wheels,” Jeff Rittichier, Emcore’s president and CEO, said in a statement. “This acquisition further solidifies Emcore’s position as one of the largest independent inertial navigation providers in the industry.”

Rittichier also said the pending acquisition will expand “Emcore’s market reach into launch vehicle and space satellite markets, both of which are seeing significant growth.”

The acquisition also includes a 110,000 square-foot leased production facility in New Jersey, master supply agreements for the Booster Rate Gyro and Tri-Axial Inertial Measurement Unit launch vehicle programs and creates partnership opportunities with L3Harris, Emcore said. Emcore said it will also be added as a preferred supplier to L3Harris for future business opportunities.

Emcore, which is based in California, had just over $158 million in sales last year.

This article was originally published by Via Satellite’s sister outlet Defense Daily