L-3 Communications
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- Not to be confused with Level 3 Communications, an Internet carrier
| L-3 Communications Holdings Inc. | |
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| Type | Public (NYSE: LLL) |
|---|---|
| Founded | 1997 |
| Headquarters | New York City, New York, USA |
| Industry | Homeland Defense Products and Services |
| Products | AVCATT, numerous specialized components |
| Revenue | $12.48 Billion USD (2006) |
| Employees | 44,200[1] |
| Website | http://www.l-3com.com/ |
L-3 Communications Holdings, Inc. (NYSE: LLL) is a company that supplies prime contractors with Intelligence, Surveillance and Reconnaissance (ISR) systems and products, secure communications systems and products, avionics and ocean products, training devices and services, microwave components and telemetry, instrumentation, space and navigation products. Its customers include the Department of Defense, Department of Homeland Security, selected U.S. Government intelligence agencies, aerospace prime contractors and commercial telecommunications and wireless customers.
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[edit] History
L-3 Communications (named for Frank Lanza, Robert LaPenta, and Lehman Brothers) was started in 1997 with the purchase of business units that were sold off in the 1996 merger between Loral Corp. and Lockheed Martin and is headquartered in New York City, New York.
In a prospective look at aviation in 2006 The World in 2006, an annual publication by The Economist, predicts that the UK-based defense contractor BAE Systems is likely to pursue further major defense acquisitions in the United States in 2006. The magazine describes L-3 as an "obvious candidate". [2] BAE is the world's fourth largest defense contractor by revenue and has grown its U.S. based subsidiary, BAE Systems Inc, dramatically in recent years. The most significant recent acquisition being the $3.974 billion (£2.1 billion) purchase of United Defense in 2005. However, shortly after rumors surfaced of an impending purchase of L-3 by BAE Systems, BAE issued a statement denying any intentions of purchasing L-3.
[edit] Buy-Outs
In 2005, L-3 acquired Titan Corp., post Lockheed-Martin's failed attempt.
[edit] Management
On June 7, 2006, L-3 CEO and co-founder Frank Lanza suffered an untimely death. CFO Michael T. Strianese was named as interim CEO, and was appointed President and CEO of the company on October 23, 2006.
[edit] References
- ^ IT100: L-3 Communications Holdings Profile. BusinessWeek. Retrieved on January 29, 2007.
- ^ Iain Carson (2005) "Beware the boom: Aerospace orders will come down to earth" The World in 2006 pp. 130-132
