Company News

L3 OceanServer Expands Operations with Additional Office Space, Vessel Assets and Employees

FALL RIVER, Mass., October 23, 2018 – L3 OceanServer, a developer and manufacturer of autonomous underwater vehicles (AUVs), announced today that it has recently added 4,700 square feet of space at its headquarters location in Fall River, Massachusetts. This doubles the operational footprint of the business and will accommodate the company’s rapid growth while continuing to leverage its waterfront location for daily vehicle testing and operations. Additionally, a 46-foot research vessel, R/V Cassiar, has been dedicated to customer training and vehicle testing at L3 OceanServer’s San Diego location.

“The decision to expand our physical assets was based on the continued growth that L3 OceanServer has experienced over the past year,” said Daryl Slocum, General Manager of L3 OceanServer. “This expansion increases our ability to build reliable vehicles that are fully exercised in real-world conditions on a daily basis.”

Since being acquired by L3 Technologies in March 2017, L3 OceanServer has tripled its workforce to 46 employees. The newly hired employees include engineers and technicians, as well as business development and operations staff.

Mr. Slocum added, “Our team consistently pushes the leading edge of technology by innovating and developing vehicles that complete missions for military, research and commercial applications. At L3 OceanServer, we take pride in being a trusted provider of man-portable underwater vehicles and are well-positioned to service these growing markets.”

L3 OceanServer is part of the Maritime Sensor Systems sector within L3’s Communications & Networked Systems business segment. Since its inception in 2003, L3 OceanServer has sold more than 300 AUVs worldwide, providing highly capable solutions to a broad array of military, commercial and international customers.

L3 Technologies is an agile innovator and leading provider of global ISR, communications and networked systems, and electronic systems for military, homeland security and commercial aviation customers. With headquarters in New York City and approximately 31,000 employees worldwide, L3 develops advanced defense technologies and commercial solutions in pilot training, aviation security, night vision and EO/IR, weapons, maritime systems and space. The company reported 2017 sales of $9.6 billion.

To learn more about L3, please visit the company’s website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the company’s website and is readily accessible.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
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.

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OceanServer Research Vessel
R/V Cassiar

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