L-3 Communications buys Northrop Grumman's Night Vision Division...

"LOS ANGELES - March 12, 2008 - Northrop Grumman Corporation (NYSE:NOC) has signed a definitive agreement to sell its Electro-Optical Systems business for $175 million in cash to L-3 Communications (NYSE:LLL). Completion of the transaction, subject to customary conditions including Hart-Scott-Rodino approval, is expected in the second quarter of 2008. Electro-Optical Systems, a part of the company's Electronic Systems sector, produces night vision and applied optics products and had sales of approximately $190 million in 2007. Headquartered in Garland, Texas, Electro-Optical Systems has approximately 1,000 employees."

Interesting... L-3 already owns EOTech, Thermal-Eye, and number of other businesses. It will be interesting to see what they do with it. I'd give it about 2 years and we'll see. My only concern is that most companies can only do one thing well. Conglomerates usually produce only mediocre products at best. Keeping a good thought. Sometimes change is for the better.