L-3 closes EOTech purchase
- By William Welsh
- Nov 17, 2005
L-3 Communications Inc. has closed its all-cash, $49 million purchase of EOTech Inc., a maker of advanced weapon sights.
The Ann Arbor, Mich., company?renamed L-3 Communications EOTech Inc. following the purchase?designs, manufactures and markets electro-optical products and systems that use advanced laser and holographic technology to enhance optical systems in various weapons platforms. The deal with L-3 closed Oct. 31.
The weapon sights are sold to domestic and international military customers as well as the homeland security and law enforcement markets.
The acquired business is expected to add about $25 million to L-3's 2006 sales.
L-3 Communications has more than 44,200 employees and annual sales of $6.9 billion. The company ranks No. 15
on Washington Technology's 2005 Top 100
list, which measures federal contracting revenue.
William Welsh is a freelance writer covering IT and defense technology.