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L-3 Completes Sale of National Security Solutions Business
February 2, 2016 | L-3 CommunicationsEstimated reading time: 1 minute
L-3 Communications announced today that it has completed the previously announced sale of its National Security Solutions (NSS) business to CACI International Inc for $550 million in cash, subject to customary adjustments. NSS provides enterprise and mission information technology services, intelligence operations support and operational infrastructure support.
“The completion of the divestiture of NSS reflects our commitment to sharpening our focus on our core defense electronics, ISR and communications businesses where we have leading positions and global reach,” said Michael T. Strianese, L-3’s chairman and chief executive officer. “As a result, we are even better positioned to drive organic growth and margin enhancement while continuing to deliver the innovative solutions that help our customers meet their goals efficiently and affordably.”
The proceeds from the sale will provide L-3 with additional flexibility to continue focusing on a disciplined and balanced capital allocation strategy to drive shareholder value and enhance the market-leading products and systems the company provides to customers.
About L-3
Headquartered in New York City, L-3 employs approximately 38,000 people worldwide and is a leading provider of a broad range of communication and electronic systems and products used on military and commercial platforms. L-3 is also a prime contractor in aerospace systems. The company reported 2015 sales of $10.5 billion.
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