L-3 Communications (LLL) Agrees to Acquire Chesapeake Sciences Corp.
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L-3 Communications (NYSE: LLL) announced today that it has entered into an agreement to acquire Chesapeake Sciences Corporation. Terms were not disclosed.
CSC is a developer and manufacturer of anti-submarine warfare (ASW) systems based in Millersville, Md. The business is expected to generate approximately $70 million of sales for the year ending December 31, 2009.
The acquisition is anticipated to be completed by March 2009, subject to standard regulatory approvals, and to be accretive to L-3's 2009 earnings.
L-3 Communications Holdings, Inc. is a prime system contractor in aircraft modernization and maintenance (AM&M), command, control, communications, intelligence, surveillance and reconnaissance systems, and government services.
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