L-3 has announced its acquisition of the Australian defence technology specialist Micreo.
The company, to be known as L-3 Micreo, will report directly to L-3 TRL Technology, part of the Integrated Sensor Systems sector in L-3’s Electronic Systems group.
Micreo, who employ 71 people at their base in Brisbane, Australia, design and manufacture radio and microwave technology for radar and electronic warfare. Their products are currently installed in several of the world's front-line military aircraft and ships.
L-3 TRL, whose headquarters are in Tewkesbury, UK, specialise in products used by defence organisations across the world to collect and encrypt intelligence.
The acquisition presents an excellent opportunity for both Micreo and L-3 TRL to build on the many synergies between the companies: it increases the value proposition of both defence technology and emerging cyber requirements; supports the close government relationships that both companies have established; aligns similar cultures and ways of working and essentially enables the ability to access multiple international markets, increasing the number of exports for both companies.
Crucially, this acquisition will present both businesses with the opportunity to increase our technical capabilities and product range to support the UK and Australian defence and security services with enhanced defence integration capabilities in the future.
“We have been reviewing a number of opportunities to both expand our capability portfolio but also increase our international presence, and we’re pleased to announce this acquisition, which supports both of these objectives”, said Alan Titheridge, L-3’s Vice President in Australia. “Micreo not only complements L-3’s increasing portfolio of defence technology capabilities but also increases our presence in Australia and supports a number of opportunities we are currently pursuing.”
Greg Roberts, L-3 TRL’s President and Chief Executive, said: “L-3 TRL specializes in the gathering and protection of intelligence through electronic warfare and cyber products and systems. The acquisition of Micreo will allow the development of a multi-domestic and indigenous business, building on the strong UK to Australian relationships in defence and security.”
“We set out to find a shareholder exit that would enable the business to grow and to look after employee and customer needs as well as satisfy our shareholders”, explained Tim Shaw, Micreo’s Chief Executive. “I’m satisfied that we have achieved those aims and the company will continue to grow and to provide rewarding and interesting work.”
Tim will be taking on the role of Chairman at L-3 Micreo and the entire management team will continue their work at L-3 Micreo.