TOP NEWS

L-3 Communications Buys Geneva Aerospace

Geneva Aerospace Inc., a Dallas-based manufacturer of unmanned aircraft, has been acquired by L-3 Communications, L-3 announced Monday. In the same report, L-3 also revealed plans to purchase satellite communications systems manufacturer Global Communications Solutions. Terms of the deals were not disclosed, though L-3's acquisition of Geneva was official on Jan. 31. Geneva, which is expected to gross some $12 million in sales this year, claims the U.S. Department of Defense among its clients. Headquartered in New York City, L-3 Communications is a contractor for the government and aviation industry sectors. The firm employs some 63,000 people worldwide and reported sales of $12.5 billion in 2006.