L-3 Acquires MITEQ, Inc.

Adds New RF Microwave and Low-Power SATCOM Products and Capabilities

NEW YORK--()--L-3 Communications (NYSE:LLL) announced today that it acquired the assets of MITEQ, Inc. on January 21, 2015 for $41 million, subject to customary adjustments. The business will be combined with L-3’s Narda Microwave-East business located in Hauppauge, N.Y., and the new organization will be called L-3 Narda-Miteq.

The Miteq business develops and manufactures specialized RF microwave products and solid-state SATCOM components that complement the existing Narda product line. The combined L-3 Narda-Miteq business will employ approximately 700 people, providing products for the U.S. military, government agencies, prime contractors and commercial customers. The Miteq acquisition is expected to generate approximately $60 million in sales for the year ending December 31, 2015.

“Miteq adds key products, technical capabilities and other synergies, strong engineering talent and new customers to L-3’s Advanced Communications sector within our Communication Systems segment,” said John S. Mega, president of L-3 Communication Systems. “Together, Narda-Miteq is a stronger and more scalable supplier that creates cross-selling opportunities and helps us build strategic partnerships with our expanding customer base.”

Miteq offers a broad product line of active and passive RF microwave components and low-power SATCOM products for space and military applications. The RF microwave product line includes low-noise and power amplifiers, mixers, solid-state switch assemblies, synthesizers, oscillators and multipliers. SATCOM products include components for airborne and Earth Station systems, as well as solid-state power amplifiers, low-noise amplifiers, uplink power control units and frequency converters.

Headquartered in New York City, L-3 employs approximately 48,000 people worldwide and is a prime contractor in aerospace systems and national security solutions. L-3 is also a leading provider of a broad range of communication and electronic systems and products used on military and commercial platforms. The company reported 2013 (revised) sales of $12.6 billion.

To learn more about L-3, please visit the company’s website at www.L-3com.com. L-3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L-3 is routinely posted on the company’s website and is readily accessible.

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Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.

Contacts

L-3
Corporate Communications
212-697-1111

Release Summary

L-3 Acquires MITEQ

Contacts

L-3
Corporate Communications
212-697-1111