L-3 completes acquisition of holographic optics producer EOTech
New York-based L-3 Communications (NYSE: LLL) has completed the acquisition of Ann Arbor, Michigan-based EOTech for approximately $49 million in cash. The acquired business will be renamed L-3 Communications EOTech (L-3 EOTech), and it is expected to add approximately $25 million to L-3’s sales for 2006 and be slightly accretive to L-3’s earnings. EOTech designs, manufactures, and markets electro-optical products and systems which use advanced laser and holographic technology to enhance the optics in target acquisition systems. The company is known for producing holographic weapon sights for both domestic and international military customers and the homeland security and law enforcement markets. EOTech’s holographic sighting systems are mounted on tactical small and medium caliber weapons.