Swap calls for one share of Engility for every six shares of L-3 common stock.
L-3 Communications Inc. spins out is technical services business in a move that should allow each part of the business to bring greater focus to their markets.
Scheduled retirement of James Dunn triggers realignment.
Lawsuit contends foreign entity gained competitive advantage through violation of confidential agreements.
Appointments seen as important steps in building world-class leadership at new entity.
Support services for Navy command centers include program management, technical engineering support, and data management.
Craig Reed and John Heller will help implement the spin-off and then take leadership positions within the newly created Engility Corp.
The new company will be located in office space currently occupied by L-3 Communications in Chantilly, Va.
Air Force vet, industry pro named to oversee operating objectives, including technical plans.
L-3 Services Inc. division secures a naval contract to work on submarine combat systems.
Once completed, the deal will give L-3 a full range of training system solutions for military and commercial customers.
They will jointly pursue technology research and development projects to enhance complex computing capabilities.