April 5 (UPI) -- Massachusetts-based OceanServer Technology, a designer and maker of autonomous underwater vehicles, has been acquired by L-3 Technologies.
The transaction announced by L3 on Tuesday occurred last month, and brings a complementary line of products to L-3's portfolio of sensor and communication systems, intelligence surveillance and reconnaissance equipment, and anti-submarine warfare and mine counter-measures.
"OceanServer Technology positions L3 to support the U.S. Navy's vision for the tactical employment of UUVs," L3's Chairman and Chief Executive Officer Michael T. Strianese said in a press release. "This acquisition also enhances our technological capabilities and strengthens our position in growth areas where we see compelling opportunity.
"As a leading innovator and developer of UUVs, OceanServer Technology provides L3 with a new growth platform that is aligned with the U.S. Navy's priorities," Strianese added.
OceanServer Technology is now part of L3's Sensor Systems segment and has been given a new name: L3 OceanServer.
Financial details of the transaction were not disclosed.