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Technology Stocks : L-3 Communications Holdings, Inc. (LLL) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Spinks who wrote (20)	9/9/1998 12:03:00 PM
From: Rick Hudson	Respond to of 32

Thursday September 3, 4:29 pm Eastern Time Company Press Release L-3 Communications Acquires Storm Control Systems Storm Adds Satellite Control Capability to L-3 Communications' Growing Satellite Business NEW YORK--(BUSINESS WIRE)--Sept. 3, 1998-- L-3 Communications Corporation (NYSE:LLL - news) announced today that it has acquired Storm Control Systems, Inc., a leading provider of satellite control software and software engineering services to the worldwide military, civilian and commercial satellite markets. Terms of the transaction were not disclosed. Headquartered in Herndon, Virginia, Storm Control Systems provides technologically advanced, commercial-off-the-shelf software products for the next generation of aerospace command and control applications. Its customers include federal agencies, international satellite manufacturers, aerospace companies and foreign space agencies. Storm will be managed by L-3 Communications' Telemetry & Instrumentation (T&I) division, a leader in satellite instrumentation and telemetry products. ''Storm adds to our space business mix an unmatched expertise in satellite command and control,'' said Frank C. Lanza, chairman and CEO of L-3 Communications. ''We are now positioned to offer a complete range of COTS solutions that deliver performance, availability, and value for every phase of satellite deployment.'' Storm is the second space-related company to be acquired by L-3 Communications, which closed on its purchase of Satellite Transmission Systems from California Microwave earlier this year. Both acquisitions are part of the Company's strategy of horizontally expanding its product base to become the satellite industry's leading supplier of ground and spaceborne components and systems. Telemetry & Instrumentation is headquartered in San Diego, California, with numerous sales and service offices worldwide. The company designs and manufactures advanced real-time commercial-off-the-shelf hardware and software products for flight test, satellite command and control, avionics test and integration and signal conditioning and data capture. L-3 Communications is a leading merchant supplier of secure communication systems and products, microwave components, avionics and ocean systems, telemetry, instrumentation, space and wireless products. Its customers include the Department of Defense, U.S. government intelligence agencies, aerospace and defense prime contractors and commercial telecommunications and cellular customers.