Forwarded From: "Spencer, Will" <wspencer@DMWGroup.com>
L-3 ACQUIRES TRIDENT TO BOOST CIVIL IT PROTECTION BUSINESS
(Defense Daily; 08/21/98)
Aug. 21, 1998 (DEFENSE DAILY, Vol. 200, No. 2 via COMTEX) -- L-3
Communications [LLL] yesterday said it acquired, for an undisclosed sum, a
commercial network security business from the privately-held Trident Data
Systems to bolster L-3 s civil and government information technology
protection business.
The business, Trident Information Protection Toolbox, will become part of
L-3 s newly-founded subsidiary, L-3 Communications Secure Information
Technology.
"Network and information security is a number-one concern for corporations
today and an $11 billion market worldwide," Frank Lanza, L-3 s chairman
and CEO, said in a statement. "As more and more threats proliferate,
Toolbox gives L-3 Communications the capability to provide our commercial
customers with sophisticated network management technologies successfully
proven in the highly demanding defense industry."
The new, wholly-owned subsidiary will be composed of the commercial
applications of the company s current secure voice and fax communications
systems, as well as the newly-formed Network Security Systems
subsidiary--part of which will be Toolbox-- in which Trident will maintain
a small stake.
"L-3 Communications is an established leader in the market for secure
voice, data, and fax communications for the military. Many banks,
financial institutions and industrial customers have expressed an interest
in the commercial application of these proprietary technologies," Lanza
added. "With the addition of Toolbox, L-3 can now help corporate clients
guard against a variety of internal and external threats with a full
complement of network, communications and data protection products.
Cress Carter, chief of Toolbox, will join L-3 and guide efforts to expand
the business, Lanza said.
One day before disclosing the Toolbox acquisition, L-3 concluded its $230
million cash acquisition of SPD Technologies, the leading producer of
power systems for military ships.
"The addition of SPD has significantly increased our product and subsystem
base for domestic and foreign navies," Lanza said in a statement. "The
acquisition of SPD is consistent with our strategy of finding companies
that are either number one or two in their markets, are strategic to their
customers, have a strong management team and help us provide more value to
our customers."
L-3 said it would acquire SPD July 6 (Defense Daily, July 7).
-o-
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Received on Wed Aug 26 09:12:11 1998