L-3 Agrees to Acquire Kollmorgen Electro-Optical

L-3 Communications LLL announced today that it has entered into an agreement to acquire the Kollmorgen Electro-Optical unit of Danaher Corporation. KEO develops and manufactures specialized equipment, including submarine photonics systems and periscopes, ship fire control systems, visual landing aids, ground electro-optical and sensor-cueing systems. Headquartered in Northampton, Mass., and with facilities in Bologna, Italy, KEO employs approximately 550 people. KEO's products are used by the U.S. military, prime contractors and allied nations. The purchase price is $210 million and will be funded with cash on hand.