NEW YORK, Nov. 22 -- L-3 Communications announced yesterday that on Nov. 8, it acquired International Microwave Corp. (IMC), a provider of wireless communications, network support systems, information technology, defense communications and surveillance systems.
The total value of the transaction is approximately $40 million in cash, with additional contingent consideration not to exceed $5 million and dependent on the financial performance of IMC in 2003. L-3 said it expects the acquisition to contribute approximately $50 million to its sales in 2003.
L-3 recently took an equity stake in Millivision, a millimeter wavelength imaging company.
For more information, visit: www.L-3Com.com