L3 Technologies, Inc. (NYSE:LLL)
Historical Stock Chart
2 Years : From Dec 2016 to Dec 2018
– 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
“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
View source version on businesswire.com: http://www.businesswire.com/news/home/20170912006075/en/