MELBOURNE, Fla.--(BUSINESS WIRE)--L3Harris Technologies (NYSE:LHX) today announced the signing of a definitive agreement under which American Holoptics, an affiliate of Koucar Management, will acquire the EOTech business.
With annual revenues of approximately $60 million, EOTech manufactures holographic sighting systems, magnified field optics and accessories for military, law enforcement and commercial markets around the world. EOTechInc.com.
The transaction is expected to close in mid-2020 and is conditioned on customary closing conditions.
About L3Harris Technologies
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $18 billion in annual revenue and 50,000 employees, with customers in 130 countries. L3Harris.com.
About American Holoptics
American Holoptics LLC is a privately held U.S. company. The company is a subsidiary of Koucar Management, whose strategic acquisitions of Elite Defense and HEL Technologies represent a solid foundation of cutting-edge optical science and weapons systems distribution. The American Holoptics leadership team has exceptionally broad and deep experience providing high-quality products to the global weapons accessory market. In addition, this team has a proven track record of building customer-first and technology-focused organizations.
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements in this press release include but are not limited to the anticipated timing of the closing of the transaction. The company cautions investors that any forward-looking statements are subject to risks and uncertainties (many of which are difficult to predict and generally beyond the company’s control) that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. The following factors, among others, could cause actual results to differ materially from the forward-looking statements or historical performance: delays in, or failures in respect of, anticipated satisfaction of closing conditions or the ability to satisfy closing conditions in a timely manner or at all. The forward-looking statements speak only as of the date of this press release, and the company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.