FOR IMMEDIATE RELEASE
GCS to be Acquired by L-3 Communications
Victor, NY, April 23, 2007 - Global Communications Solutions, Inc (GCS) announced today that it has agreed to be acquired by L-3 Communications (NYS:LLL). GCS, headquartered in Victor, NY, is a leading manufacturer of fly-away VSAT satellite terminals and a reseller of Inmarsat products and services. Over the last 12 years, GCS has become a leader in federal agency, Department of Defense and Cable News network markets. Its products are designed and manufactured in two facilities in Victor, and it has sales offices in Virginia and Chicago. In the last year, GCS has been awarded major multi-year supply contracts with the United States Special Operations Command and the US Navy.
“We are very excited about the upcoming acquisition. We are confident that GCS becoming an L-3 Communications company will be great for our employees, our customers and suppliers, and should create an environment for continued growth within both Monroe and Ontario counties” said Robert Jacobson, Vice-President of Sales and Programs for GCS. “We anticipate a continued high level of growth and are excited about the business synergies within L-3’s Microwave Group and other L-3 Communications Divisions.”
The closing is expected to take place in the second calendar quarter, subject to customary closing conditions. M&T Investment Banking Group served as exclusive financial advisors to shareholders of GCS.
Eileen Yatteau, Marketing Communications Manager
Global Communications Solutions, Inc. (GCS)