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L-3 to Add Trace Detection to Security Portfolio with Implant Sciences Deal

By Cal Biesecker

Monday, October 17th, 2016

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L-3 Communications [LLL] has agreed to acquire the explosive trace detection (ETD) business of Implant Sciences [IMSC] for $117.5 million in cash, a deal which would add a handsome new capability to its Security & Detection Systems division.L-3 will fund the acquisition through cash on hand. Deal terms include the assumption of certain liabilities.Implant on Oct. 10 entered Chapter 11 Bankruptcy protection and L-3’s asset purchase agreement is contingent on approval by the U.S. Bankruptcy Court, a review that is…

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