LOS ANGELES, Jan. 25, 2007 (PRIME NEWSWIRE) -- 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.
Northrop Grumman Corporation is a $30 billion global defense and technology company whose 120,000 employees provide innovative systems, products, and solutions in information and services, electronics, aerospace and shipbuilding to government and commercial customers worldwide.
CONTACT: Dan McClain (Media) Northrop Grumman Corporation (310) 201-3335 email@example.com Gaston Kent (Investors) Northrop Grumman Corporation (310) 201-3423 firstname.lastname@example.org