Litton develops and manufactures navigation, guidance and control, electronic warfare and command, control and communications systems and information technology. It is a primary builder of large multi-mission surface combatant ships for the U.S. Navy and a major provider of overhaul, repair, modernization, ship design and engineering services.
Litton, founded in 1953 as a small electronics company, has evolved into a $3.6 billion aerospace/defense company. Several acquisitions were completed during fiscal year 1996 which enhanced the Company's existing business base including PRC Inc. ("PRC") in February 1996 and Sperry Marine Inc. ("Sperry Marine") in May 1996. PRC is a diversified information technology company that designs, develops, integrates and processes computer-based information systems and reengineers business systems for the U.S. Government (including non-defense federal markets) and other customers. Sperry Marine is a leading producer of marine electronic navigation and guidance systems to commercial and military customers. January 16 -- Litton Industries Inc. announced today that it has agreed to purchase SAI Technology (SAIT), a division of Science Applications International Corporation. Terms of the transaction were not disclosed. December 12 -- Litton Industries, Inc. has signed a purchase agreement for Litton's acquisition of the Racal Marine Group from Racal Electronics Plc. The preliminary purchase price of the transaction, which is expected to close in early 1997, is approximately $49 million in cash. Headquartered in the United Kingdom, the Marine Group is a world leader in the marine radar field. Its major products include diverse marine electronics equipment, including radars, electronic chart systems, chart video plotting systems and bridge monitoring systems.