Northrop Grumman Completes Acquisition of Essex Corporation
Northrop Grumman Completes Acquisition of Essex Corporation
January 25, 2007
LOS ANGELES, Jan 25, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Northrop Grumman
Corporation (NYSE: NOC) announced today that it has completed the acquisition
of Essex Corporation, having acquired 100 percent of the shares of Essex
common stock for $24 per share. The cash transaction is valued at
approximately $580 million, which includes the assumption of Essex's debt.
Essex provides signal processing services and products and advanced optoelectronic imaging for U.S. government intelligence and defense customers. It will operate as a business unit within Northrop Grumman's Mission Systems sector.
Northrop Grumman Corporation is a $30 billion global defense and technology company whose 120,000 employees provide innovative systems, products, and solutions in information and services, electronics, aerospace and shipbuilding to government and commercial customers worldwide.
SOURCE Northrop Grumman Corporation
Media, Dan McClain, +1-310-201-3335, dan.mcclain@ngc.com, or Investors, Gaston Kent, +1-310-201-3423, gaston.kent@ngc.com, both of Northrop Grumman Corporation
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