Northrop Grumman Corporation and 3001 International, Inc. announced that they have signed a definitive merger agreement under which Northrop Grumman will acquire 3001. Financial terms of the agreement are not disclosed.
Los Angeles and Fairfax,
VA –Northrop Grumman Corporation
(NYSE: NOC) and 3001 International, Inc. announced that they have signed
a definitive merger agreement under which Northrop Grumman will acquire 3001.
Financial terms of the agreement are not disclosed.
is expected to close in the fourth quarter of 2008. Following the close of the
transaction, 3001 will be part of Northrop Grumman’s Information Technology
(IT) sector. Completion of the transaction is subject to customary conditions
addition of 3001 will significantly complement our current core geospatial
business," said Linda A. Mills, corporate vice president and president of
Northrop Grumman IT. "Its strong geospatial data collection, processing
and production capabilities help us further address the critical needs and
priorities across civilian, defense, intelligence, homeland security, energy
and environmental business areas, from both domestic and international
current CEO of 3001 noted, "We are excited about the additional business
opportunities, resources, and potential career possibilities available to 3001
and our employees as part of the Northrop Grumman team." Bailey will
continue to lead 3001 as part of Northrop Grumman.
3001, owned by
its management and CM Equity Partners, provides geospatial data production and
analysis, including airborne imaging, surveying, mapping and geographic
information systems for domestic and international government intelligence,
defense and civilian customers. Among 3001’s federal customers are the National
Geospatial Intelligence Agency, U.S. Army Corps of Engineers, U.S. Navy
Facilities Command, and the U.S. Department of Agriculture. 3001 also has
numerous contracts supporting state and local governments.
Partners is a private equity investment firm, which makes investments in
private middle-market companies that operate primarily in the federal services
Grumman Corporation is a global defense and technology company whose 120,000
employees provide innovative systems, products, and solutions in information and
services, electronics, aerospace and shipbuilding to government and commercial
Northrop Grumman to Acquire 3001 International, Inc.
September 11, 2008