Spotlight: Lockheed Spinoff L-3 to Acquire SPD Technologies

SPD Technologies Inc., a maker of electrical products with a large manufacturing facility in Anaheim, said it will be bought by a former unit of Lockheed Martin Corp. for $230 million. L-3 Communications Holdings Inc., a New York-based supplier of military communications systems, is buying SPD in order to expand both its product line and access to the Navy. The former Lockheed unit was spun off last year. Privately held SPD acquired Power Paragon Inc. in Anaheim last year for an undisclosed sum.