L3 Technologies (NYSE: LLL), then L-3 Communications, has wrapped up its purchase of Implant Sciences’ explosive trace detection business for $117.5 million cash through an asset purchase agreement.
Michael Strianese, chairman and CEO of L3, said in a statement released Thursday the acquisition will help expand L3’s presence in national security and global aviation security markets.
The transaction will also complement L3’s checkpoint management platforms and security software through its acquisition of U.K.-based aviation security technology manufacturer MacDonald Humfrey Automation, Strianese added.
L3 purchased MacDonald Humfrey in a deal worth up to $315.5 million in November a month after it agreed to buy Implant Sciences’ ETD business in a bankruptcy auction process that was approved by the U.S. Bankruptcy Court in December.
L3 will assume specified liabilities of Implant Sciences and incorporate the latter’s ETD business with its security and detection systems division under L-3’s electronic systems business segment.
Tom Ripp, president of L3 Security & Detection Systems division, said he expects Implant Sciences’ trace detection tools to help address the gap in L3’s sensor portfolio.
New York City-based defense contractor L3 has approximately 38, 000 employees worldwide and posted $10.5 billion in 2015 sales.
