L-3 Communications [LLL] on Friday said it has agreed to acquire Insight Technology, a provider of night vision and electro-optical equipment for military, law enforcement and allied nations.
Insight, which is based in New Hampshire, develops and manufactures laser aiming and illumination devices, laser rangefinders, laser markers and designators, night vision goggles and monoculars, and thermal imaging systems.
Once the deal closes, which is expected during the second quarter of 2010, Insight will become part of L-3’s new Warrior Systems Sector, which will be led by Ken Solinsky, Insight’s president. The Warrior Systems Sector will also include L-3’s existing electro-optical and infrared businesses. Solinsky will report to James Dunn, president of L-3’s Sensors and Simulations Group.
“By combining Insight’s outstanding people and innovative products with our existing portfolio, we add important new capabilities to L-3,” Michael Strianese, L-3’s chairman, president and CEO, said in a statement. L-3 said that warrior systems represent a key strategic growth area for the company.
Terms of the deal were not disclosed. L-3, which is paying cash on hand for the purchase, said the acquisition will be immediately accretive to its operating results. Insight has 1,100 employees and expects sales this year of $290 million.