May 24, 2017

L3 Technologies acquired Open Water Power, Inc. on May 19, 2017. 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 platform, sensor and payload offerings. “The acquisition of Open Water Power aligns with L3’s disciplined growth strategy by adding an important new technology to our portfolio in the growing UUV market,” said Michael T. Strianese, L3’s Chairman and Chief Executive Officer.

https://finance.yahoo.com/news/l3-acquires-open-water-power-130000482.html

 

 

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