Mustang Technology Group, L.P. (“Mustang”) has been acquired by L-3 Communications (“L-3”). Mustang will be renamed L-3 Mustang Technology and become a part of the Precision Engagement business of the Electronic Systems division of L-3, adding key capabilities, technical synergies, proprietary technologies and new customers.
Founded in 1999 and headquartered in Plano, Texas, Mustang is a developer and manufacturer of radar-based sensors and systems used in precision-guided weapons, electronic warfare systems, unmanned systems and other military applications. Mustang offers a diverse and proven technology collection of software-defined radar and RF sensors and systems, with proprietary capabilities in radar-based seeker, proximity fuze, hostile fire indicating and ISR (intelligence, surveillance and reconnaissance) sensor applications. Mustang’s products are on the leading edge of the current and next generation of U.S. weapon systems requirements and are used by the U.S. military, government agencies and prime contractors. Mustang has 115 employees and approximately $36 million in revenue.
Headquartered in New York City, L-3 is a prime contractor in C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, platform and logistics solutions, and national security solutions. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms. L-3 employed approximately 51,000 people and generated $13.1 billion in revenue in its most recent fiscal year.
Terms of the transaction were not disclosed. Philpott Ball & Werner, LLC served as advisor to Mustang.