GTE Deal In The Works

GTE Deal In The Works

Frank Lanza

L3 Communications Inc. of New York and ITT Industries Inc. of White Plains, N.Y., were working on a joint bid for GTE Government Systems Division at press time.

Under the deal, L3 would get GTE's secure communications business, and ITT would take the rest, sources said.

Formed in April 1997 when Lockheed Martin sold 10 unwanted divisions of Loral Corp., L3 is a supplier of secure communications technology, avionics, displays and telemetry, instrumentation, space and wireless products.

Officials with L3 and ITT declined to comment.

Another industry source said GTE was close to picking a single company with which to negotiate, but that no final deal is imminent.

GTE spokesman Rob Doolittle said GTE is on track to sell the $1.4 billion government unit by Sept. 30, and still hopes to find a single buyer rather than break apart the business. GTE wants to focus on core commercial telecommunications and Internet markets.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • POWER TRAINING: How to engage your customers

    Don't miss our July 12 Washington Technology Power Training session on Mastering Stakeholder Engagement, where you'll learned the critical skills you need to more fully connect with your customers and win more business. Read More

  • PROJECT 38 PODCAST

    In our latest Project 38 Podcast, editor Nick Wakeman and senior staff writer Ross Wilkers discuss the major news events so far in 2019 and what major trends are on the horizon. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.