L3 Acquires Open Water Power, Inc.
JX Luxventure Limited (LLL)
Last jx luxventure limited earnings: 5/1 06:20 am
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Source: Business Wire
– Acquisition Enhances Company’s Growing Portfolio of Innovative Undersea Capabilities – NEW YORK--(BUSINESS WIRE)-- L3 Technologies (NYSE:LLL) announced today that it has acquired Open Water Power, Inc. (“Open Water Power”). The acquisition was completed on May 19, 2017, and the terms were not disclosed. The business will be renamed L3 Open Water Power and will be integrated into L3’s Sensor Systems business segment. Based in Somerville, Massachusetts, Open Water Power is developing safe and high-energy-density undersea power generation technologies for use by Unmanned Undersea Vehicles (UUVs) and other maritime platforms. Its breakthrough technology enables safe power generation solutions for UUVs and results in significant safety and endurance improvements over current technologies. Additionally, the company’s capabilities complement and are applicable to L3’s existing portfolio of maritime
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