Hello, Guest!
  • Saturday, April 20, 2024

L3 Acquires UUV Power System Manufacturer in Naval Market Push; Michael Strianese Comments


L3 Technologies (NYSE: LLL) has completed the acquisition of maritime power-generation technology developer Open Water Power for an undisclosed value in a move that seeks to expand the former’s unmanned undersea vehicle portfolio.

The Massachusetts-based company will take the name L3 Open Water Power and operate under L3’s sensor systems business, the aerospace and defense contractor said Monday.

Michael Strianese

Michael Strianese, chairman and CEO of L3, noted the company aims to build on its two recent acquisitions to address demand in the U.S. Navy for smaller UUVs that work to perform longer missions at greater depths.

The May 19 purchase of Open Water Power comes approximately a month after L3 also acquired UUV manufacturer OceanServer Technology and integrated that business into the sensor systems organization as L3 OceanServer.

L3 added Open Water Power’s UUV power-generation systems have safety and endurance features and can be applied to its existing maritime platform, sensor and payload offerings.

Video of the Day

Related Articles

BlueVoyant Names Sebastian Sobolev as Product VP Executive Moves

BlueVoyant Names Sebastian Sobolev as Product VP

Sebastian Sobolev, a cybersecurity and data analytics professional, has been appointed vice president of product at New York-based cloud-native cyber defense platforms provider BlueVoyant. He announced his new position in a LinkedIn post published Thursday. Prior to his current position, Sobolev was chief technology officer at BlueVoyant’s government solutions business and was responsible for technology

Iridium Reports Q1 2024 Results, Completes 1st Ever Acquisition; Matt Desch Quoted Financial Reports

Iridium Reports Q1 2024 Results, Completes 1st Ever Acquisition; Matt Desch Quoted

Iridium Communications (Nasdaq: IRDM) presented its Q1 2024 financial results, in which total revenue reacched $203.9 million, although slightly lower by 0.7 percent from a year ago. Notably, the voice and data satellite communications provider’s net income increased 101.1 percent year-over-year to $19.65 million, while the subscriber base grew 7 percent compared to Q1 2023, Iridium said

L3Harris Books $187M USSF Space Surveillance System Maintenance Contract Contract Awards

L3Harris Books $187M USSF Space Surveillance System Maintenance Contract

L3Harris Technologies (NYSE: LHX) has secured a potential $187 million contract to continue helping the U.S. Space Force maintain and upgrade its space surveillance systems and command centers dedicated to providing space domain awareness for military and civilian users. The award exercises the option year five of the potential 10-year, $1.2 billion Maintenance Of Space