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L3 Technologies Acquires ETD Assets of Implant Sciences
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L3 Technologies completed the acquisition of Implant Sciences’ explosives trace detection (ETD) assets. The acquisition was valued at $117.5 million in cash plus the assumption of specified liabilities.
Details of the Acquisition
L3 Technologies will integrate the acquired assets into its Security & Detection Systems division within the Electronic Systems business segment. The acquisition is expected to help L3 Technologies to increase its capabilities in the global aviation security and national security markets.
Implant Sciences has received approvals and certifications for the transaction from Transportation Security Administration (TSA) in the U.S., the Ministry of Public Safety in China, the European Civil Aviation Conference (ECAC) and several other international regulatory agencies.
Benefits of the Acquisition
Implant Sciences’ strong domain expertise and technical capabilities in innovative tracing solutions will help L3 Technologies achieve its strategic growth initiatives. It has developed state-of-the-art trace detection technologies, which significantly boost L3 Technologies’ sensor portfolio.
Implant Sciences’ ETD business complements L3 Technologies’ market-leading checkpoint management systems and security efficiency software.
The acquisitions of MacDonald Humfrey and Implant Sciences’ ETD business will provide L3 Technologies a full suite of solutions to capitalize on the opportunities in the growing security and detection market.
Price Movement
Shares of L3 Technologieshave gained 31.7% in the last 12 months, outperforming the Zacks categorized Electronics-Military Systems Market industry’s gain of 27.4%. The company witnesses a steady flow of contracts from the Pentagon, which has primarily driven its outperformance.
Zacks Rank & Key Picks
L3 Technologies currently has a Zacks Rank #3 (Hold). A few better-ranked stocks in the aerospace & defense sector include Arotech Corporation , Lockheed Martin Corporation (LMT - Free Report) and Engility Holdings, Inc. .
Lockheed Martin’s 2017 estimates inched up 1.2% to $12.63 from $12.48 over the last 60 days. The company sports a Zacks Rank #1 as well.
Engility’s 2017 estimates inched up 0.5% to $2.12 from $2.11 over the last 60 days. The company carries a Zacks Rank #2 (Buy).
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L3 Technologies Acquires ETD Assets of Implant Sciences
L3 Technologies completed the acquisition of Implant Sciences’ explosives trace detection (ETD) assets. The acquisition was valued at $117.5 million in cash plus the assumption of specified liabilities.
Details of the Acquisition
L3 Technologies will integrate the acquired assets into its Security & Detection Systems division within the Electronic Systems business segment. The acquisition is expected to help L3 Technologies to increase its capabilities in the global aviation security and national security markets.
Implant Sciences has received approvals and certifications for the transaction from Transportation Security Administration (TSA) in the U.S., the Ministry of Public Safety in China, the European Civil Aviation Conference (ECAC) and several other international regulatory agencies.
Benefits of the Acquisition
Implant Sciences’ strong domain expertise and technical capabilities in innovative tracing solutions will help L3 Technologies achieve its strategic growth initiatives. It has developed state-of-the-art trace detection technologies, which significantly boost L3 Technologies’ sensor portfolio.
Implant Sciences’ ETD business complements L3 Technologies’ market-leading checkpoint management systems and security efficiency software.
The acquisitions of MacDonald Humfrey and Implant Sciences’ ETD business will provide L3 Technologies a full suite of solutions to capitalize on the opportunities in the growing security and detection market.
Price Movement
Shares of L3 Technologieshave gained 31.7% in the last 12 months, outperforming the Zacks categorized Electronics-Military Systems Market industry’s gain of 27.4%. The company witnesses a steady flow of contracts from the Pentagon, which has primarily driven its outperformance.
Zacks Rank & Key Picks
L3 Technologies currently has a Zacks Rank #3 (Hold). A few better-ranked stocks in the aerospace & defense sector include Arotech Corporation , Lockheed Martin Corporation (LMT - Free Report) and Engility Holdings, Inc. .
Arotech’s2017 estimates improved 300% to 8 cents from 2 cents over the last 60 days. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Lockheed Martin’s 2017 estimates inched up 1.2% to $12.63 from $12.48 over the last 60 days. The company sports a Zacks Rank #1 as well.
Engility’s 2017 estimates inched up 0.5% to $2.12 from $2.11 over the last 60 days. The company carries a Zacks Rank #2 (Buy).
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>