EMCORE to Acquire L3Harris’ Space and Navigation Business

EMCORE Corp., a provider of advanced mixed-signal products that serve the aerospace, defense, communications, and sensing markets, has entered into a definitive agreement to acquire the assets and liabilities of the L3Harris Space and Navigation business for approximately $5 million.

The acquisition expands EMCORE’s fiber optic gyroscope (FOG) product portfolio into the strategic-grade and space-qualified markets and adds a technical team capable of producing high-performance FOGs, ring laser gyros, and reaction wheels, Jeff Rittichier, president and CEO of EMCORE, said.

The all-cash transaction includes master supply agreements for the BoRG (Booster Rate Gyro) and TAIMU (Tri-Axial Inertial Measurement Unit) launch vehicle programs and creates partnership opportunities with L3Harris to expand mutual business. Additionally, EMCORE will be added as a preferred supplier to L3Harris divisions for future business opportunities.

Per the transaction, EMCORE will acquire all intellectual property and outstanding assets and liabilities of the L3Harris Space and Navigation business, including the 110,000-sq-ft leased production facility in Budd Lake, N.J. Completion of the transaction is subject to customary closing conditions and is currently expected to close in the quarter ending June 30, 2022.