L-3 Communications Logo – L-3 Communications Corporation is a company that Intelligence, Surveillance and Reconnaissance (ISR) systems and products, communications equipment, aircraft equipment, exercise equipment and products, telemetry, instrumentation, space and navigation products to prime contractors. Customers include the United States Department of Defense, the Department of Homeland Security, a number of U.S. intelligence agencies, aerospace manufacturers, and commercial telecommunications customers.
L-3 Communications was formed in 1997 with the purchase of units that were sold following the merger in 1996 between Loral Corporation and Lockheed Martin. Headquartered in New York City, New York. The name stands for Frank Lanza, Robert LaPenta and Lehman Brothers.
In a prospect of aviation in 2006 predicted The World in 2006, an annual publication of The Economist, that BAE Systems of Britain probably intends to companies in the defense industry in the United States to buy in 2006. The magazine called L-3 as an obvious candidate. BAE is the fourth largest defense company in the world, measured by revenues. It’s U.S. subsidiary, BAE Systems Inc., enormous growth in recent years with the acquisition of United Defense in 2005 for $ 3.974 billion (£ 2.1 billion) the most important. BAE, however, the rumors of a takeover of L-3 denied.
On 7 June 2006 died L-3 CEO Frank Lanza suddenly. After L-3 shares rose by about $ 4 by speculation that the company would be acquired by direct competitors. Potential acquisition candidates are Lockheed Martin, Northrop Grumman and other similar companies in the defense industry. There was also speculation about renewed interest of BAE Systems Inc.