NEW YORK, March 9, 2010 – L-3 Communications announced that it has entered into an agreement to acquire Insight Technology Inc. of Londonderry, N.H., a mission critical night vision and electro-optical equipment manufacturer.
With an undisclosed purchase price to be funded with cash, the acquisition is anticipated to be completed in the second quarter of 2010, subject to customary closing conditions and regulatory approvals. It will be structured as an asset purchase.
Pending the completion of the transaction, Ken Solinsky, founder and president of Insight, will become the president of L-3’s newly created Warrior Systems sector. The sector will include the companies’ existing electro-optical/infrared (EO/IR) businesses currently addressing the warrior systems market and will be reported in L-3’s Electronic Systems segment.
For more information, visit: www.l-3com.com