L3 Technologies (NYSE:LLL) has announced that it has acquired Applied Defense Solutions (ADS), an aerospace engineering, software development and space situational awareness company, the company said.
The purchase price was approximately USD 50 million, subject to customary working capital adjustments. ADS is expected to generate approximately USD 15 million in sales for the remainder of calendar year 2018 and approximately USD 50 million for calendar year 2019.
The transaction is expected to be EPS neutral for 2018 and accretive in 2019. Headquartered in Columbia, Maryland, with offices in Herndon, Virginia, and Colorado Springs, Colorado, the business will be renamed L3 ADS and provides the intelligence community, DoD, NASA and other customers with space systems mission planning, space exploration and satellite operations, protection and resiliency.
Headquartered in New York City, L3 Technologies employs approximately 31,000 people worldwide and is a provider of a broad range of communication, electronic and sensor systems used on military, homeland security and commercial platforms. L3 is also a prime contractor in aerospace systems, security and detection systems, and pilot training. The company reported 2017 sales of USD 9.6 billion.