– Leader in the Design and Manufacture of Explosives Trace Detection (ETD) Systems and Sensors for Homeland Security and Defense Markets –

NEW YORK — L-3 Communications (NYSE:LLL) announced today that it has entered into an asset purchase agreement (APA) to acquire certain assets of Implant Sciences Corporation (Implant) for $117.5 million in cash, plus the assumption of specified liabilities. L-3 intends to finance the asset purchase using its existing cash on hand. Implant has recently entered into Chapter 11 Bankruptcy protection, and the consummation of the APA will be subject to approval of the U.S. Bankruptcy Court. Following a successful acquisition, the assets will be integrated into L-3’s Security & Detection Systems division within its Electronic Systems business segment.

Pursuant to the terms of the APA, L-3 will acquire the explosives trace detection (ETD) business of Implant. The company’s ETD products have received approvals and certifications from several international regulato