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L3 Acquires UAS Company With Technology For Fixed-Wing And Vertical Flight

Cal Biesecker By
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L3 Acquires UAS Company With Technology For Fixed-Wing And Vertical Flight
Latitude Engineering HQ-40 UAS. Photo: Latitude Engineering

L3 Technologies [LLL] in late June acquired Latitude Engineering, a small company that has developed technology to enable unmanned aircraft systems (UAS) to take off and land vertically and also fly as a fixed wing aircraft.L3 disclosed the $15 million cash deal in a July 26 filing with the Securities and Exchange Commission that discussed the company’s second quarter financial results for 2018. Deal terms include a potential $20 million more for the purchase if certain financial performance conditions are…

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