L-3 Communications acquires Ipitek
- By Gail Repsher Emery
- Dec 22, 2003
L-3 Communications Corp. of New York acquired the assets of Ipitek, the defense and aerospace division of Ipicom Inc., for $27.5 million in cash, L-3 officials announced today.
Carlsbad, Calif.-based Ipitek provides secure, optical data link systems for defense and aerospace applications, and develops and manufactures systems and supporting component technologies for the U.S. military, some U.S. government agencies and major prime contractors to the Department of Defense, according to L-3 officials.
The Dec. 10 acquisition will add slightly to L-3 Communications' 2004 earnings, according to a company statement. L-3 Communications provides intelligence, surveillance and reconnaissance systems, secure communications systems and aircraft modernization. Its customers include the departments of Defense and Homeland Security, U.S. intelligence agencies and aerospace prime contractors.
The Ipitek acquisition adds important optical networking technology to L-3 Communications' intelligence surveillance and reconnaissance (ISR) and secure communications businesses, said Frank Lanza, chairman and chief executive officer of L-3 Communications.
"This acquisition is necessary to continue our success in secure wideband communications within our ISR segment, and is consistent with our strategy for future product expansion in our specialized products segment," Lanza said.
Ipitek manufactures broadband communications products, fiber-optic systems and advanced sensor components, including transmitters, optical data links, receivers, amplifiers and uncompressed digital systems.
"We can broaden the applications of Ipitek's technology to a greater number of key platforms that will be upgraded, as well as other applications, including phased array radars, electronic warfare and communications," Lanza said. "For the next several years, we expect there will be a very large replacement market for optical data links in military aircraft. There is also opportunity for applications in commercial markets, including temperature, chemical, biological and structural sensors."