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

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Our databases track awards back to 2013. Read More

  • Navigating the trends and issues of 2016 Nick Wakeman

    In our latest WT Insider Report, we pull together our best advice, insights and reporting on the trends and issues that will shape the market in 2016 and beyond. 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.