Print
Email
Print Edition StoriesDefense and security technology firm L-3 Communications Inc. said Friday it would acquire Insight Technology Inc., a New Hampshire-based maker of night vision goggles and other electro-optical equipment.
Londonderry-based Insight’s technology, which includes laser aiming, illumination, and marking devices as well as night vision goggles and monoculars, will be incorporated into a newly created Warrior Systems Sector group at L3. Insight founder and president Ken Solinsky will be president of the group, which also includes the New York firm’s existing electro-optical/infrared business.
L3 said Insight is expected to generate $290 million in sales for 2010, and while it would not disclose the purchase price, it is approximately nine times Insight’s 2010 earnings before interest, taxes, depreciation and amortization. The deal is expected to close in the second quarter of this year.
Insight employs about 1,100 people.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
