Finland’s Wärtsilä Corporation has completed the acquisition of Germany-based L-3 Marine Systems International (MSI), a segment of L-3 Communications that is primarily focused on the commercial ship industry.

The company had announced this purchase in December last year and is currently valued at €285m. The deal includes an estimated reduction of €60m for L-3 MSI employee pension-related liabilities to be assumed by Wärtsilä.

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L-3 MSI provides automation, navigation and electrical systems, as well as dynamic positioning technology, and sonar and underwater communications technology for the marine, naval and offshore markets.

"Our growth strategy [is] to become the leading provider of innovative products and integrated solutions in the marine and oil and gas industries."

This acquisition will help Wärtsilä strengthen its position as a developer of technologies that enhance the operational efficiency of vessels, the company stated.

L-3 chairman, president and CEO Michael T Strianese said: "We are pleased to have completed the divestiture of our MSI business, marking another milestone in our ongoing effort to reshape our portfolio and strengthen focus on our core businesses."

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Wärtsilä Corporation Ship Power senior executive vice-president and president Jaakko Eskola earlier said: "The deal is fully in-line with our growth strategy to become the leading provider of innovative products and integrated solutions in the marine and oil and gas industries."

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Brands under MSI are SAM Electronics, L-3 Valmarine, Lyngsø Marine, L-3 Dynamic Positioning and Control Systems, Jovyatlas Euroatlas, L-3 Elac Nautik, Funa and APSS.

I{n 2014, the company reported net sales of €404m and an operating profit of 7%.