L-3 acquires U.K. communication security specialist TRL Electronics

New York-based L-3 Communications (NYSE: LLL) has completed the acquisition of Tewkesbury, Gloucestershire, U.K.-based TRL Electronics (LSE: TRL.L) for a total cash consideration of £95.9 million, or about $176.2 million. Note that L-3 U.K. has submitted a request to AIM (the Alternative Investment Market of the London Stock Exchange) for the cancellation of the admission to AIM and the trading of TRL shares. It is anticipated that cancellation of admission to, and trading of TRL shares on AIM is likely to become effective on or about 28 July 2006.

“We are thrilled with the completion of the TRL Electronics acquisition,” said Michael T. Strianese, interim chief executive officer and chief financial officer of L-3 Communications.

TRL reported sales of GBP £14.0 million, or approximately $26.3 million, for the six months which ended 30 September 2005. TRL has a number of technologies which are complementary to L-3’s capabilities, particularly in the Electronic Counter Measures (ECM) and cryptographic areas. The British company offers some of the most advanced radio and satellite communications systems available, and governments and defense organizations around the world use its solutions to trace, locate, monitor, and defend transmissions, as well as to communicate securely.

The company is considered a leader in two areas: First, developing responsive radio jammers and denial-of-service devices (the company also is a provider of military-off-the-shelf [MOTS] ECM and Electronic Warfare Support Measures [ESM] products). Second, TRL’s Electronic Security division known for its solutions for protecting sensitive electronic data during transmission and storage using cryptographic techniques; it is a provider of the highest military grade ATM and IP network cryptography.