GPS World

Tag: L3Harris Space and Navigation

  • Emcore contracted for navigation for space launch vehicles

    Emcore contracted for navigation for space launch vehicles

    Initial value of the contracts is expected to be more than $12 million

    Logo: EmcoreEmcore Corporation has been awarded new contracts for the Booster Rate Gyro (BoRG) and Tri-Axial Inertial Measurement Unit (TAIMU) programs for space launch vehicles resulting from its acquisition of the L3Harris Space and Navigation business.

    The BoRG program award is a contract valued at more than $12 million for the production of IMUs used for flight stabilization of the booster stage of a multistage launch system. The TAIMU program award is a development contract for the design and qualification of IMUs deployed for navigation and flight control of the upper stage of a multistage launch system.

    Pending successful demonstration of required capability and quality, Emcore expects to be awarded follow-on production contracts for TAIMU within the next 12 months.

    “We are honored to supply our highest grade inertial navigation equipment for these critical space launch vehicle programs,” said Albert Lu, senior vice president and general manager, Aerospace and Defense for Emcore. ”We look to further our close partnership with L3Harris through successful on-time deliveries for both the BoRG and TAIMU programs,” Lu added.

    Acquisition Closes

    Emcore’s acquisition of the L3Harris Space and Navigation business closed on May 2. Emcore acquired the business for approximately $5 million in an all-cash transaction, subject to any net working capital adjustments.

    The acquisition expands Emcore’s inertial navigation product portfolio with the addition of navigation-and strategic-grade gyro and inertial measurement unit products.

    Emcore acquired all outstanding assets and liabilities of the L3Harris Space and Navigation business, including all L3Harris intellectual property rights primarily used in the Space and Navigation business, a 110,000-square-foot leased production facility in Budd Lake, New Jersey, and associated production equipment.

  • Emcore to acquire the L3Harris Space and Navigation business

    Emcore to acquire the L3Harris Space and Navigation business

    Emcore logoEmcore Corporation has entered into a definitive agreement to acquire the assets and liabilities of the L3Harris Space and Navigation business for approximately $5 million in an all-cash transaction.

    “L3Harris Space and Navigation designs and builds some of the most accurate navigation products in the world,” said Jeff Rittichier, president and CEO of Emcore. “This acquisition expands our fiber-optic gyroscope (FOG) product portfolio into the strategic grade and space-qualified markets. We will also gain a technical team with a sterling track record of development and production of high-performance FOGs, ring laser gyros (RLGs) and reaction wheels.

    “This acquisition further solidifies Emcore’s position as one of the largest independent inertial navigation providers in the industry. This is an excellent fit strategically for Emcore, bringing space and navigation’s strong brand, inertial technology and important program wins. It also expands Emcore’s market reach into launch vehicle and space satellite markets, both of which are seeing significant growth,” Rittichier added.

    “The L3Harris Space and Navigation team will provide Emcore with the capability to accelerate expansion into a true navigation-grade FOG business with superior performance and accuracy compared to competitors,” said Albert Lu, senior vice president and general manager, Aerospace and Defense for Emcore. “Combining this business into Emcore will allow us to provide customers with an expanded product suite that serves a broader range of requirements across both the tactical and navigation grade segments of the market.”

    Highlights of the transaction are as follows:

    • Expands Emcore’s inertial navigation product portfolio and addressable market, accelerating growth and contributing additional revenue.
    • Includes master supply agreements (MSAs) for the BoRG (Booster Rate Gyro) and TAIMU (Tri-Axial Inertial Measurement Unit) launch vehicle programs and creates partnership opportunities with L3Harris to expand mutual business.
    • Adds Emcore as a preferred supplier to L3Harris divisions for future business opportunities.
    • Adds a complete set of capabilities to design and test for space applications:
      • shock, vibration and thermal-shock measurement equipment
      • x-ray capability and vacuum chambers.
    • Includes a large number of rate tables that can serve multiple product applications.
    • Is expected to create material operating synergies in engineering, manufacturing and sales.
    • Is expected to be non-GAAP EPS accretive.

    Through the transaction, Emcore will acquire all the intellectual property and outstanding assets and liabilities of the L3Harris Space and Navigation business, including the 110,000-square-foot leased production facility in Budd Lake, New Jersey.

    The consummation of the transaction is subject to customary closing conditions and is currently expected to close in the quarter ending June 30, 2022.