Litton acquires Intevac Industries' Electro-Optical division

Business Wire, June 13, 1995

WOODLAND HILLS, Calif.--(BUSINESS WIRE)--June 13, 1995--Litton Industries Inc. (NYSE:LIT) and Intevac Industries Inc. have announced the purchase by Litton of Intevac's Electro-Optical Sensors division in Palo Alto, Calif.

The Intevac unit is a developer and manufacturer of advanced night vision equipment for the domestic and international defense market with current annual sales of approximately $15 million. Terms of the acquisition were not disclosed. Intevac is a privately owned company based in Santa Clara, Calif.

Intevac's Electro-Optical Sensors business is being integrated into the night vision systems operation of Litton's Electron Devices division in Tempe, Ariz. Litton has offered employment and transfers to Arizona to a substantial number of the Intevac unit's employees.

Litton Electron Devices division President John Middaugh said: "Purchase of the Intevac business brings us significant new technology, a broadened product line and improved customer support. Intevac has special strength in third-generation components that adds greatly to the high levels of optical resolution demanded by increasingly complex tactical military environments.

"This acquisition strengthens our position in the worldwide defense marketplace as military budgets continue to decline," Middaugh said.

Litton recently completed the purchase of the night vision and laser equipment business of Imo Industries' Dallas-based Electro- Optical Systems units. Those operations had 1994 sales of more than $110 million.

Litton is a leader in worldwide technology markets for advanced electronic and defense systems, and a major designer and builder of surface combatant ships for the U.S. Navy and allied nations.

CONTACT: Litton Industries Inc., Woodland Hills

Robert Knapp, 818/598-5907 (office)

805/496-2453 (home)