Wärtsilä has completed the acquisition of L-3 Marine Systems International (MSI), with control of the company to be transferred to Wärtsilä, effective 1 June 2015.
In December 2014, Wärtsilä announced that agreement had been reached to acquire MSI from L-3 Communications Holdings Inc. The transaction is valued at €285 million (enterprise value). After estimated adjustments of cash, working capital, and pension liabilities, the purchase price is estimated to be €295 million.
Wärtsilä's position in the development of electrical and automation (E&A) technologies that enhance operational efficiency will be strengthened with the addition of MSI's range of capabilities. The company's portfolio comprises SAM Electronics, Valmarine, Lyngsø Marine, Dynamic Positioning & Control Systems, Jovyatlas Euroatlas, ELAC Nautik, FUNA, GA International and APSS.
MSI has experience in supplying automation, navigation and electrical systems, dynamic positioning technology, as well as sonar and underwater communications technology for a variety of vessel types and offshore installations.
Adapted from press release by Katie Woodward