L-3 Completes Acquisition of Thales’ Civil Aircraft Simulation and Training Business
NEW YORK--(BUSINESS WIRE)-- L-3 Communications (NYSE: LLL) announced today that it completed the acquisition of Thales Training & Simulation Ltds civil aircraft simulation and training business effective August 6, 2012. The company paid £83 million (approximately $130 million), subject to certain contractual adjustments to the purchase price, and was funded with cash on hand.
L-3 Link Simulation & Training UK produces the flexible, modular and customizable RealitySeven Full Flight Simulator, which today is supporting civil aircraft aircrew training worldwide. (Photo: Business Wire)
The business, which is now known as L-3 Link Simulation & Training U.K. Limited, will become a part of L-3s existing Link Simulation & Training division, which is part of L-3s Electronic Systems Group. L-3 Link Simulation & Training U.K. Limited has its main office and production facility in Crawley, U.K., and has a global customer base. The units civil aircraft simulation solutions feature a suite of devices that meet every aspect of flight and maintenance crew training requirements.
Headquartered in New York City, L-3 Communications employs approximately 51,000 people worldwide and is a prime contractor in C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, aircraft modernization and maintenance, and national security solutions. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms.
To learn more about L-3, please visit the companys 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 companys website and is readily accessible.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
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 companys Safe Harbor Compliance Statement for Forward-Looking Statements included in the companys 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.
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Source: L-3 CommunicationsCopyright Business Wire 2012