Communications & Power Industries To Acquire ESSCO Business Of L3Harris For Undisclosed Sum

Communications & Power Industries LLC (CPI) has agreed to acquire L3 ESSCO, Inc. (ESSCO) from an affiliate of L3Harris Technologies Inc LHX. The financial terms of the deal were not disclosed.
Massachusetts-based ESSCO manufactures metal space frame ground radomes that support various applications, including air defense, weather radar, air traffic control, and satellite telemetry and tracking.
The acquisition will combine ESSCO's capabilities in ground radomes with CPI's expertise in airborne and shipboard radomes, broadening CPI's existing product offering to include sophisticated radomes and structures manufactured from alternative materials.
The acquisition is to close before the end of the calendar year 2021.
Price Action: LHX shares closed lower by 1.01% at $231.74 on Friday.