L3 Acquires Adaptive Methods, Inc.

Date : 09/12/2017 @ 9:00AM
Source : Business Wire
Stock : L3 Technologies, Inc. (LLL)
Quote : 217.65  0.86 (0.40%) @ 3:59PM

L3 Acquires Adaptive Methods, Inc.

L3 Technologies, Inc. (NYSE:LLL)
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– Acquisition Delivers New Sensor Technology That Expands Company’s Undersea Market Presence –

L3 Technologies (NYSE:LLL) announced today that it has acquired Adaptive Methods, Inc. (“Adaptive Methods”). The acquisition was completed on September 8, 2017, and the terms were not disclosed. The business will be renamed L3 Adaptive Methods and will be integrated into L3’s Sensor Systems business segment.

Based in Centreville, Virginia, Adaptive Methods is a systems engineering company that delivers Undersea Warfare (USW) and Anti-Submarine Warfare (ASW) capabilities for U.S. military customers. It is also developing autonomy and sensor payload solutions for use by Unmanned Undersea Vehicles (UUVs). Additionally, the company provides tactical buoy systems for manned and unmanned platforms, as well as ASW sonar processing systems and displays and command and control/theatre ASW systems.

“The addition of Adaptive Methods provides L3 with an innovative UUV autonomy technology that will broaden our capabilities in the dynamic and growing undersea market,” said Christopher E. Kubasik, L3’s President and Chief Operating Officer. “By combining its solutions with our L3 OceanServer and Open Water Power businesses, L3 will be uniquely positioned to support the U.S. Navy’s evolving priorities. We continue to execute on a disciplined acquisition strategy that strengthens our businesses, adds cross-segment collaboration opportunities and creates value for our customers.”

Headquartered in New York City, L3 Technologies employs approximately 38,000 people worldwide and is a leading provider of a broad range of communication, electronic and sensor systems used on military, homeland security and commercial platforms. L3 is also a prime contractor in aerospace systems, security and detection systems, and pilot training. The company reported 2016 sales of $10.5 billion.

To learn more about L3, please visit the company’s website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the company’s website and is readily accessible.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.

L3Corporate Communications212-697-1111

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