• (L-R) Vice president L-3 Communications Australia Alan Titheridge with Tim Shaw, founder and CEO Micreo, and L-3 TRL president Greg Roberts. Credit: ADM (David Jones)
    (L-R) Vice president L-3 Communications Australia Alan Titheridge with Tim Shaw, founder and CEO Micreo, and L-3 TRL president Greg Roberts. Credit: ADM (David Jones)
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L-3 acquires Australian Micreo

8 September 2016
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As we went to press L-3 Communications has agreed to acquire Australian electronic warfare subsystems provider Micreo.

Following acquisition, which will be completed this month following satisfaction of standard closing conditions Micreo will be integrated into the electronic systems segment as L-3 Micreo.

According to Businesswire, Micreo is projected to generate $35 million in sales for the year ending December 31 2017.

 

"[This  will enable] the business to grow and to look after employee and customer needs as well as satisfy our shareholders."

 

L-3 Micreo will report directly to L-3 TRL, part of the Integrated Sensor Systems (ISS) sector within Electronic Systems, L-3’s largest and most diverse business segment. Within ISS, L-3 delivers sensor solutions in all domains – from submarines to surface ships, soldiers, ground vehicles, and airborne and space platforms and it expects L-3 Micreo to play a critical role in helping to further expand its business in these areas with particular focus on the EW portfolio.

“Micreo not only complements L-3’s increasing portfolio of ISR and EW system capabilities but also increases our presence in Australia and supports a number of opportunities we are currently pursuing,” L-3’s vice president in Australia Alan Titheridge said. 

Greg Roberts, L-3 TRL president explained that L-3 TRL specialises in the gathering and protection of intelligence through EW and Cyber products and systems.

“The acquisition of Micreo will allow the development of a multi-domestic and indigenous business, building on the strong UK to Australian relationships in defense and security,” Roberts said.

“We set out to find a shareholder exit that would enable the business to grow and to look after employee and customer needs as well as satisfy our shareholders,” Tim Shaw, Micreo CEO explained.

“I’m satisfied that we have achieved those aims and the company will continue to grow and to provide rewarding and interesting work.”

Shaw will be taking on the role of Chairman at L-3 Micreo and the entire management team will continue their work at the new company.

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