L-3 Communications [LLL] on Thursday said it has acquired MITEQ, Inc., a developer and manufacturer of RF components, assemblies and systems and low-power satellite communications products, for $41 million.
L-3 said that MITEQ will be combined with its Narda Microwave East business, which will become L-3 Narda-Miteq and have about 700 employees. MITEQ, which has about 350 employees, is expected to contribute about $60 million in sales for L-3 this year. Narda and Miteq are located in Long Island.
L-3 said that MITEQ’s RF Microwave and solid-state SATCOM complement the existing Narda product line, which consists of a wide range of RF Microwave components and subsystems. MITEQ’s products are sold for space and military applications.
MITEQ adds new products such as amplifiers, fiber optic products, mixers, space qualifier products and SATCOM products to Narda’s portfolio and is the “`go-to’” brand name for active components such as amplifiers and mixers, an L-3 spokeswoman told Defense Daily via email.
“MITEQ adds key products, technical capabilities and other synergies, strong engineering talent and new customers to L-3’s Advanced Communications sector within our Communications Systems segment,” John Mega, president of L-3 Communications Systems, said in a statement. “Together, Narda-Miteq is a stronger and more scalable supplier that creates cross-selling opportunities and helps us build strategic partnerships with our expanding customer base.”
MITEQ’s financial adviser on the deal was OEM Capital Corporation.