L-3 Communications (NYSE: LLL) has agreed to purchaseÂ the explosive trace detection business assets of Implant Sciences for $117.5 million cash in a push to expandÂ the former’sÂ portfolio of security and detection platforms.
L-3 said Monday it will assume specified liabilities under the asset purchase agreement with Implant Sciences and will integrate the latterâs ETD business with itsÂ security and detection systems division under L-3âs electronic systems business segment.
Implant Sciences has filed for Chapter 11 bankruptcy protection and both the sale of assets and L-3âs role as acquirer are subject to U.S. Bankruptcy Court approval.
Implant Sciencesâ ETD offerings for defense and homeland security markets have approvals from international regulatory agencies, such as the U.S. Transportation Security Administration and the European Civil Aviation Conference.
TSA ordered more than 1, 300 units of the Implant Sciences-built QS-B220 desktop explosives and drugs trace detector platform in September.