Northrop Grumman Completes Acquisition of Essex Corporation

( LOS ANGELES - January 25, 2007 ) Northrop Grumman Corporation (NYSE: NOC) announced today that it has completed the acquisition of Essex Corporation, having acquired 100 percent of the shares of Essex common stock for $24 per share. The cash transaction is valued at approximately $580 million, which includes the assumption of Essex's debt.

Essex provides signal processing services and products and advanced optoelectronic imaging for U.S. government intelligence and defense customers. It will operate as a business unit within Northrop Grumman's Mission Systems sector.

Source : Northrop Grumman

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