Wyle Labs to Buy General Dynamics Unit
From Dow Jones/Associated Press
Wyle Laboratories Inc. will buy the aeronautics services business of General Dynamics Corp., positioning Wyle to pursue additional Defense Department contracts.
Financial terms weren’t disclosed.
The purchase will essentially double the size of privately held Wyle, an El Segundo-based provider of testing, research and engineering services.
General Dynamics’ aeronautics services business, based in Lexington Park, Md., is part of more than 200 contracts with the Navy, Air Force and prime contractors. The business has revenue of more than $220 million annually and employs about 1,600 people.
