|[January 31, 2013]
ITT Exelis completes acquisition of C4i Pty. Ltd.
HERNDON, Va. --(Business Wire)--
ITT (News - Alert) Exelis (NYSE: XLS) has completed its acquisition of C4i
Pty. Ltd. (C4i) from the Longreach
Group Limited (ASX Code: LRG) for an enterprise value of
approximately USD 16.8 million. C4i, based in Melbourne, Australia,
provides advanced communications software that supports mission critical
communications for a range of applications including air traffic
management, defense, public safety, mining and homeland security. The
acquisition does not materially impact Exelis financial results for the
full-year of 2012 or the first quarter of 2013.
C4i's Internet Protocol (IP)-based voice control and switching
capabilities provide flexible communications connectivity for dispersed
operations personnel. This capability ensures that diverse organizations
can effectively communicate in rea-time to achieve vital mission needs
through the flexible inter-networking of disparate telephony and radio
C4i will become part of the Information Systems business of Exelis. Pam
Drew, president of Exelis Information Systems said of the transaction,
"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." She went on to say, "We welcome
C4i to the Exelis portfolio. We look forward to synergies with our air
traffic management business with an immediate focus on Australia's oneSKY
Australia initiative to combine civil and military air traffic
control. More broadly, we see opportunity for integrating C4i's
communications capabilities with Exelis' expertise in developing and
deploying large scale communications networks."
Peter Harrison, C4i vice president and general manager, said, "Joining
the Exelis team expands the breadth of capabilities we can offer to our
existing customers and opens doors to new customers outside of our core
markets. We anticipate more opportunities for the growth of our business
and our employees. The acquisition represents significant commitment to
the Australian market and Exelis business pursuits here."
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
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