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Business/Financial

L-3 Completes Acquisition of ASW Systems Provider Chesapeake Sciences

DDN

Tuesday, February 10th, 2009

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L-3 Communications [LLL] yesterday said it completed its purchase of Chesapeake Sciences Corp. on Jan. 30, adding to its existing portfolio of Anti- Submarine Warfare (ASW) products. L-3 said the deal will add about $60 million to its sales this year and be accretive to earnings. The expected additional revenue is $10 million less than when L-3 first announced the acquisition last year (Defense Daily, Nov. 25, 2008). Chesapeake Sciences develops, tests and integrates towed sonar arrays for use on…

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