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Business/Financial

L-3 To Acquire Australian Defense Electronics Company Micreo

By Cal Biesecker

Wednesday, September 7th, 2016

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L-3 Communications [LLL] on Wednesday said it has agreed to acquire Australian defense company Micreo Limited in a deal that expands its business in Australia and complements its capabilities in sensors.Terms of the deal, which is expected to close this month, were not disclosed. Micreo has 72 employees and is expected to have $27 million in sales and be accretive to L-3’s earnings in 2017.L-3 said the acquisition will strengthen its development of future products in the higher electronic warfare…

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