L-3 Communications [LLL] yesterday said it has acquired Germany-based FUNA International, GmbH, a supplier of control, safety, communications and entertainment systems for cruise ships, ferries and mega yachts.
The company also divested its InfraredVision Technology Corp. business unit, a commercial original equipment manufacturer of camera subassemblies.
Terms of the actions, which were both completed before Christmas, were not disclosed. FUNA’s fire detection and suppression systems are also used in offshore wind turbines, which fits with L-3’s strategy to grow its business in the offshore wind energy segment. FUNA is expected to generate about $60 million in sales this year and be accretive to L- 3’s earnings.
FUNA will be included in the Marine & Power Systems Group within L-3’s Electronic Systems segment.
“The addition of FUNA creates significant opportunities for revenue synergies by expanding the portfolio of products we offer our Marine and Power Systems customers and by increasing our customer base,” Robert Leskow, president of L-3’s Marine & Power Systems, said in a statement. “FUNA is known for providing high quality solutions to its customers and expands our offering for complex passenger vessels.”
The divestiture of InfraredVision fits with L-3’s plans to shed non-core businesses.