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L-3 To Spin-Off $2 Billion Government Services Company

Defense Daily Staff Defense Daily Staff
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Responding to changing market conditions and relatively new conflict of interest rules, L-3 Communications [LLL] yesterday said it will spin-off the majority of its Government Services segment into a $2 billion, independent, publicly traded firm that will focus on systems engineering and technical assistance (SETA), training and operational support to the Defense Department and other customers. The spin-off of the new company, to be called Engility, follows a year-long strategic review across all of L-3’s businesses that has resulted in…

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