L-3 Communications (NYSE: LLL) announced today that it has entered into an agreement to acquire the assets of Thales Training & Simulation Ltd’s civil aircraft simulation and training business. The purchase price is £83 million (approximately $132 million) and will be funded with cash on hand.

Headquartered in Crawley, United Kingdom, the business employs approximately 400 people. It is a leading manufacturer of commercial flight simulation equipment, with an installed base of more than 540 simulators and a significant global customer roster. The business also operates a training center in Asia. Its advanced civil aircraft simulators are compliant with U.S. Federal Aviation Administration, European Aviation Safety Agency and International Civil Aviation Organization regulations.

The acquisition is anticipated to be completed in the summer of 2012, subject to customary closing conditions and regulatory approvals, and will be substantially structured as an asset purchase for income tax purposes. For the 12 months endingDecember 31, 2012, the new civil aircraft training and simulation business is expected to generate sales of approximately $150 million. The acquisition is expected to be immediately accretive to L-3’s results of operations.

“With this acquisition, L-3 will strengthen its existing military training and simulation business by adding full flight simulator capability and expanding into the civil simulation market. The business, when combined with our existing military training and simulation business, will enable L-3 to offer a full range of total training system solutions to military and commercial customers,” said Michael T. Strianese, L-3’s chairman, president and chief executive officer. “The result for L-3 will be a diversified and expanded simulation and training business and an increased global presence and growth outlook.”

Pending the successful completion of this transaction, Thales Training & Simulation will be integrated into the L-3 Link Simulation & Training organization, which is part of L-3’s Electronic Systems Group.

Headquartered in New York City, L-3 employs approximately 61,000 people worldwide and is a prime contractor in C³ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, aircraft modernization and maintenance, and government services. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms. The company reported 2011 sales of $15.2 billion.

To learn more about L-3, please visit the company’s website at www.L-3com.com. L-3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L-3 is routinely posted on the company’s website and is readily accessible.

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Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.

HeliHub.com Editor Note – Thales Training & Simulation is in partnership with Eurocopter and DCI under the name of Helisim – and it is their NH90 simulator we feature above