L3 Technologies (NYSE: LLL) has purchased Columbia, Md.-based aerospace engineering and space situational awareness services provider Applied Defense Solutions for approximately $50 million in a move to build up its space mission capabilities.
L3 said Monday it will operate the newly acquired firm as L3 ADS to provide space exploration, space systems mission planning and satellite operations, resiliency and protection services to the Defense Department, NASA and agencies within the intelligence community.
œL3 ADS strengthens our business in the mission-critical aspects of space situational awareness, particularly in the area of multi-domain command and control, which is a key element of our country™s national security strategy objectives, said Christopher Kubasik, L3 chairman, president and CEO.
Kubasik, a 2017 Wash100 recipient, added the acquisition seeks to reflect L3™s growth strategy that aims to speed up innovation, deliver integrated platforms to clients and invest in new capabilities.
L3 ADS is expected to realize approximately $15 million in sales for the rest of calendar year 2018 and approximately $50 million in 2019 sales.
L3 said it expects the deal, which is subject to working capital adjustments, to be earnings per share neutral for this year and accretive in 2019.
