Author: Anna Forrester|| Date Published: May 22, 2017
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.
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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.
