L-3 Buys Night Vision Firm

22.02.2010 Joint Ventures

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L-3 Communications agreed to buy Insight Technology, a maker of night-vision and electro-optical equipment such as laser rangefinders, night-vision goggles and thermal imaging systems.
L-3 didn't release the purchase price for Insight, but said it will fund the acquisition with cash on hand. Insight is expected to have sales of $290 million in 2010, L-3 said.
The acquisition is expected to be completed in the second quarter of 2010. Insight is based in Londonderry, N.H., and has about 1,100 employees.
Ken Solinsky, Insight's Founder and President, is slated to become President of L-3's new Warrior Systems sector, which includes L-3's electro-optical/infrared products business, pending completion of the deal, L-3 said.
 

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