NEW YORK, NY, February 22, 2000 - L-3 Communications (NYSE:LLL) today announced
that it has completed its acquisition of the assets of the Training Devices and
Training Services (TDTS) business of Raytheon Company (NYSE:RTNB). As previously
announced, the company entered into a definitive agreement to purchase TDTS for $160
million, and expects the acquisition to be accretive to earnings in 2000.
L-3 further announced that as part of the acquisition, it will change the name of
its training and simulation business from Training Devices and Training Services to
L-3 Communications Link Simulation & Training.
"We are very pleased to welcome Link Simulation & Training into the L-3 family of
companies," said Frank C. Lanza, chairman and chief executive officer of L-3 Communications.
"By renaming TDTS as Link Simulation & Training, we have restored an extraordinary
legacy with a franchise name that goes back over 70 years. In the future, we look
forward to performing to the standards implicit in this great legacy, which is now an
important part of L-3, and further enhancing Link's position in the simulation and
training market."
Link Simulation & Training is a systems integration organization that specializes
in delivering and supporting training systems and equipment that enhance operational
proficiency. Link's full range of services include conducting front end analysis, program
design, course development and production, interactive distance learning, simulator design
and production, training implementation, training evaluation, training management and field
support. Link has its headquarters operation in Arlington, Tex. and other major bases of
operation in Kirkwood, NY, Orlando, Fla., and Broken Arrow, Okla.
Headquartered in New York City, L-3 Communications is a leading merchant supplier of
secure communications systems and products, avionics and ocean products, training products,
microwave components and telemetry, instrumentation, space and wireless products. Its
customers include the Department of Defense, selected U.S. government intelligence agencies,
aerospace prime contractors and commercial telecommunications and cellular customers.
To learn more about L-3 Communications, please visit the company's website at
www.L-3Com.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except
for historical information contained herein, the matters set forth in this news release are
forward-looking statements. The forward-looking statements set forth above involve a number
of risks and uncertainties that could cause actual results to differ materially from any such
statement, including the risks and uncertainties discussed in the company's Safe Harbor
Compliance Statement for Forward-looking Statements included in the company's recent filings,
including Forms 10-K and 10-Q, with the Securities and Exchange Commission.
