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PFG Precision Optics - Precision Optics 12/24 LB

Northrop Grumman Acquires Fibersense Technology

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LOS ANGELES, Dec. 20 -- Northrop Grumman Corp. announced it has acquired Fibersense Technology Corp. from Audax Group. The stock of Fibersense, a designer and manufacturer of fiber optic gyroscope-based navigation systems, was acquired for $44 million in cash. Fibersense, which has approximately 140 employees, designs and manufactures precision fiber optic gyroscopes, inertial measurement units and sensor components for missile, aircraft, sea and land applications. Fibersense will be integrated into Northrop Grumman's Navigation Systems Div., based in Woodland Hills, Calif. A part of Northrop...Read full article

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    Published: December 2002
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