L-3 Communications Acquires PerkinElmer Detection Systems

NEW YORK, June 18 -- L-3 Communications announced it has completed its acquisition of PerkinElmer's Detection Systems business. The company received clearance under the Hart-Scott-Rodino Antitrust Improvements Act without any required divestitures. The new company will be named L-3 Communications Security and Detection Systems.

The Detection Systems acquisition is expected to generate $40 million in revenues for the remainder of 2002 and to be accretive to L-3's earnings in 2002.

L-3 Communications said the acquisition broadens its capabilities and product offerings in the market for explosive detection systems and provides it with enhanced manufacturing and marketing capabilities.