Aerospace company ITT Exelis, in a bid to bolster its signal processing toolkit, closed its acquisition of Space Computer Corp. for an undisclosed sum, Exelis announced.
Space Computer Corp., which is privately-owned, creates technology that helps defense agencies process and make sense of data picked up by hyper-spectral sensors on satellites, unmanned aircraft and other planes to locate targets. The Los Angeles-based company’s customers also include research laboratories and NASA.
Exelis’ net income for the three months ended March 31 fell 14.6 percent to $70 million, company filings indicate.
The company appears to have been eyeing acquisitions lately. Exelis in April acquired Applied Kilovolts Group Holdings Ltd., a provider of power supplies, expanding Exelis' offerings in the medical and scientific instrumentation market, the company announced.