ITT Exelis Announces Agreement to Acquire C4i Pty. Ltd.
- Acquisition adds advanced communications software to air traffic management portfolio
- Investment expands global reach in Asia Pacific
HERNDON, Va.--(BUSINESS WIRE)-- ITT Exelis (NYS: 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 Internet 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
Leah Lackey, 703-668-6234
KEYWORDS: Australia United States North America Australia/Oceania Virginia
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