L-3 closes a deal

L-3 Communications Holdings Inc. of New York acquired Technology, Management and Analysis Corp. of McLean, Va., for $50 million in cash, plus consideration of up to $7 million, contingent on TMA's financial performance in 2002 and 2003.

TMA provides project engineering and logistics, information technology and technical services to the Department of Defense. TMA employs 500 people and expects $55 million in sales in 2003, according to a statement from investment bank Houlihan Lokey Howard & Zukin, which advised TMA and negotiated the transaction for the company.

The acquisition follows on the heels of a Sept. 18 announcement by L-3 of its intention to acquire Wescam Inc., a Canadian provider of wireless visual information systems for the military, for about $118 million.

 

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