L-3 Communications acquired FUNA International. The terms of the transaction were not disclosed. The business will be included in the Marine & Power Systems Group within L-3’s Electronic Systems segment.
L-3 Communications acquired FUNA International. The terms of the transaction were not disclosed. The business will be included in the Marine & Power Systems Group within L-3's Electronic Systems segment.
Headquartered in Germany, FUNA is a supplier of control and safety systems, communication systems and entertainment solutions for cruise ships, ferries and megayachts. FUNA's fire detection and suppression systems are also used in offshore wind turbines. FUNA is expected to generate approximately US$60 million of sales for the year ending December 31, 2011 and to be immediately accretive to L-3's earnings.
“The addition of FUNA creates opportunities for revenue synergies by expanding the portfolio of products we offer our Marine & Power Systems customers and by increasing our customer base,” said Robert Leskow, President of L-3's Marine & Power Systems. “FUNA is known for providing solutions to its customers and expands our offering for complex passenger vessels. FUNA also provides fire safety and suppression systems for offshore wind turbines, fitting well with our strategy to grow business in the offshore wind energy segment.”
Separately, L-3 also announced the divestiture of its InfraredVision Technology business on December 17, 2010.
InfraredVision Technology, based in Buellton, California, is a commercial OEM manufacturer of camera subassemblies. L-3 evaluates the strategic and financial performance of its business units and, from time to time, may consider further divestitures of noncore businesses as L-3 seeks to drive growth and operating efficiencies across the company.