{"id":55937,"date":"2022-02-17T00:06:10","date_gmt":"2022-02-16T16:06:10","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/emcore-to-acquire-l3harris-space-and-navigation-business\/"},"modified":"2022-02-17T00:06:10","modified_gmt":"2022-02-16T16:06:10","slug":"emcore-to-acquire-l3harris-space-and-navigation-business","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/emcore-to-acquire-l3harris-space-and-navigation-business\/","title":{"rendered":"Emcore to Acquire L3Harris Space And Navigation Business"},"content":{"rendered":"<\/p>\n<p><strong>Emcore Corp.<\/strong> on Tuesday said it has agreed to acquire the Space and Navigation business of <strong>L3Harris Technologies<\/strong> for $5 million in cash in a deal that expands its fiber optic gyroscope (FOG) product suite into the markets for strategic grade and space-qualified systems.<\/p>\n<p>The acquisition is expected to close by the end of June. For L3Harris, the sale is part of its exit of non-core businesses, which is nearly complete. L3Harris said in a statement to <em>Via Satellite<\/em> on Wednesday that the Space and Navigation business provides guidance and control systems and is a major supplier of high precision pointing, guidance, control, and positioning equipment for satellites, fire control, digital battlefield solutions, and launch vehicles.<\/p>\n<p>\u201cWe will also gain a technical team with a sterling track record of development and production of high-performance FOGs, ring laser gyros, and reaction wheels,\u201d Jeff Rittichier, Emcore\u2019s president and CEO, said in a statement. \u201cThis acquisition further solidifies Emcore\u2019s position as one of the largest independent inertial navigation providers in the industry.\u201d<\/p>\n<p>Rittichier also said the pending acquisition will expand \u201cEmcore\u2019s market reach into launch vehicle and space satellite markets, both of which are seeing significant growth.\u201d<\/p>\n<p>The acquisition also includes a 110,000 square-foot leased production facility in New Jersey, master supply agreements for the Booster Rate Gyro and Tri-Axial Inertial Measurement Unit launch vehicle programs and creates partnership opportunities with L3Harris, Emcore said. Emcore said it will also be added as a preferred supplier to L3Harris for future business opportunities.<\/p>\n<p>Emcore, which is based in California, had just over $158 million in sales last year.<\/p>\n<p><em>This article was originally published by Via Satellite\u2019s sister outlet Defense Daily<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Emcore Corp. on Tuesday said it has agreed to acquire the Space and Navigation business of L3Harris Technologies for $5 million in cash in a deal that expands its fiber optic gyroscope (FOG) product suite into the markets for strategic grade and space-qualified systems. The acquisition is expected to close by the end of June. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":55938,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-55937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/55937"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=55937"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/55937\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/55938"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=55937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=55937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=55937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}