COM DEV USA, LLC, said yesterday it has agreed to acquire the Passive Microwave Devices product line of L-3 Communications [LLL] Electron Technologies Inc. business unit for $12.2 million in cash.
COM DEV USA, a subsidiary of Canada’s COM DEV International Ltd., said the deal will accelerate its entry into the United States government space market. COM DEV said it plans to grow the business “aggressively.”
The deal is expected to close within three months. COM DEV said the final purchase price will be subject to certain closing adjustments.
The microwave business designs and produces space qualified passive microwave components including multiplexers, filters, switches and ancillary components. The business has participated on more than 100 U.S. satellite programs and has over 100 patents. COM DEV said the microwave businesses’ 65 employees and its assets and equipment will be transferred from their current location in Torrance, Calif., to COM DEV’s recently purchased production facility in nearby El Segundo, Calif.