ITT Exelis (NYSE: XLS) has completed its acquisition of C4i Pty. Ltd. (C4i) from the Longreach Group Limited (ASX Code: LRG) for an enterprise value of approximately USD 16.8 million. C4i, based in Melbourne, Australia, provides advanced communications software that supports mission critical communications for a range of applications including air traffic management, defense, public safety, mining and homeland security. The acquisition does not materially impact Exelis financial results for the full-year of 2012 or the first quarter of 2013.
C4i’s Internet Protocol (IP)-based voice control and switching capabilities provide flexible communications connectivity for dispersed operations personnel. This capability ensures that diverse organizations can effectively communicate in real-time to achieve vital mission needs through the flexible inter-networking of disparate telephony and radio systems.
C4i will become part of the Information Systems business of Exelis. Pam Drew, president of Exelis Information Systems said of the transaction, “This acquisition expands our portfolio of critical infrastructure solutions, builds on our presence in Australia, and brings us closer to our customers and markets of interest.” She went on to say, “We welcome C4i to the Exelis portfolio. We look forward to synergies with our air traffic management business with an immediate focus on Australia’s oneSKY Australia initiative to combine civil and military air traffic control. More broadly, we see opportunity for integrating C4i’s communications capabilities with Exelis’ expertise in developing and deploying large scale communications networks.”
Peter Harrison, C4i vice president and general manager, said, “Joining the Exelis team expands the breadth of capabilities we can offer to our existing customers and opens doors to new customers outside of our core markets. We anticipate more opportunities for the growth of our business and our employees. The acquisition represents significant commitment to the Australian market and Exelis business pursuits here.”C4i is based in Melbourne, Australia with locations in Perth, Australia, Reston, Va., USA and Singapore.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV