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L-3 Com Buys Navigation Business.(Brief Article)

Microtechnology News

| January 01, 2000 | COPYRIGHT 2000 BCC Research. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

L-3 Communications (NY) said it has signed a definitive agreement to purchase, for cash, the Space and Navigation Business of the former AlliedSignal Inc., which has been merged as part of Honeywell International Inc. The acquisition also includes the former AlliedSignal's MicroSciras inertial sensor product which is based on MEMS technology. MicroSciras is the next-generation silicon- based navigation technology, which replaces conventional gyroscope, fiber-based inertial systems. It is a promising technology to solve the cost, size, and reliability constraints of smart munitions.

The transaction has a value of $55 million. The acquisition is anticipated to be complete by the end of 1999, and is expected to be accretive to earnings in 2000.

Headquartered in Teterboro, New Jersey, Space and Navigation Systems is a leader in navigation products for major weapon systems and satellites. The company is also a premier supplier of high-quality, high-reliability gyroscopes, controlled-momentum devices, and star sensors for commercial, military, and other ...

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