L-3 Communications [LLL] said on Friday that it has acquired International Resources Group, Ltd. (IRG), a small firm that specializes in international economic relief and reconstruction, in a deal that complements L-3’s existing work supporting foreign ministries of defense.
Terms of the deal were not disclosed, but L-3 said it expects IRG to contributed $100 million to sales next year and be immediately accretive to earnings. IRG works with the State Department’s United States Agency for International Development in support of development efforts in a number of countries including Iraq, Honduras, Senegal and others. The company has an ongoing project presence in over 30 countries.
IRG also works directly with foreign companies. Earlier this year IRG won a contract from Saudi Aramco in Saudi Arabia to develop an energy modeling system to meet the growing demand for energy within the Kingdom in the most optimal way.
In addition to its relief and reconstruction work, IRG also has expertise in energy and natural resources, particularly in environmental management.
L-3, through its services business and MPRI business unit, provides support to the Defense Department as well as foreign ministries of defense. Adding IRG to its fold gives it a more completed international services offering covering the defense, diplomacy and development space, an L-3 spokesman said.
“Together we will now be able to offer government agencies, international organizations and foreign nations comprehensive solutions to the most complex requirements of development, institutional capacity building and stability operations,” Carl Vuono, president of L-3’s Services Group, said in a statement.