|[December 10, 2012]
ITT Exelis Announces Agreement to Acquire C4i Pty. Ltd.
HERNDON, Va. --(Business Wire)--
ITT (News - Alert) Exelis (NYSE: XLS) has signed a definitive agreement to acquire C4i
Pty. Ltd. (C4I) based in Melbourne, Australia, from the Longreach
Group Limited (ASX Code: LRG) for an enterprise value of
approximately USD 16.8 million. Pending Longreach Group shareholder
approval, the transaction is expected to close in the first quarter of
2013 subject to customary closing conditions and regulatory approvals.
The acquisition is not material to Exelis 2012 results.
C4i provides advanced communications software that is central to the
needs of air traffic management systems and mobile communications
solutions for commercial, homeland security and defense systems around
the globe. Its Intenet Protocol (IP)-based voice control and switching
solutions allow for large networks of radio devices to be seamlessly
integrated. This technology provides operators with a fully integrated
command and control system enabling enhanced safety and efficiency for
air traffic control.
"C4i's interoperable communications solutions and engineering talent
will complement Exelis' strong and successful record of integrating,
deploying and operating large scale communications networks for our air
traffic management, commercial and defense customers," said Michael R.
Wilson, president of Exelis
Information Systems. "This acquisition expands our portfolio of
critical infrastructure solutions, builds on our presence in Australia,
and brings us closer to our customers and markets of interest."
C4i is based in Melbourne, Australia with locations in Perth, Australia;
Reston, Va., USA; and Singapore.
About ITT Exelis
ITT Exelis is a diversified, top-tier global aerospace, defense and
information solutions company with strong positions in enduring and
emerging global markets. Exelis is a leader in networked communications,
sensing and surveillance, electronic warfare, navigation, air traffic
solutions and information systems with growing positions in cyber
security, composite aerostructures, logistics and technical services.
The company has a 50-year legacy of innovation and technology expertise,
partnering with customers worldwide to deliver affordable,
mission-critical products and services for managing global threats,
conflicts and complexities. Headquartered in McLean, Va., the company
employs about 20,500 people and generated 2011 sales of $5.8 billion. www.exelisinc.com
[ Back To TMCnet.com's Homepage ]