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Aquisition
COM DEV completes acquisition of Passive Microwave Devices Product Line from L-3 Communications
Company increases 2008 revenue guidance
EL SEGUNDO, CA - COM DEV USA, LLC, a subsidiary of COM DEV International Ltd., announced that it has closed its previously announced US$12.2 million acquisition of the Passive Microwave Devices product line from L-3 Communications.
"This acquisition has established COM DEV USA as the leading supplier of
passive microwave equipment for the US Government space market," said Dan
White, President of COM DEV USA. "We look forward to working with our new
team, who will add depth to our skilled workforce and help us aggressively
grow our US business."
COM DEV International has increased its guidance to 15 to 20% revenue
growth in fiscal 2008, compared to guidance of 10 to 15% growth prior to the
acquisition.
The Passive Microwave Devices product line has been active in more than
100 US satellite programs, producing and designing space qualified components
including multiplexers, filters, switches and ancillary components. Through
the acquisition, COM DEV gains 65 skilled employees and a rich portfolio of
intellectual property, including more than 100 patents cultivated over the
product line's 35-year history.
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