Elbit Systems of America has agreed to acquire Sparton from an affiliate of private-equity firm Cerberus Capital Management for $380 million.
Elbit said in its announcement the deal is "conditioned on various closing conditions, including receipt of U.S. regulatory approvals, the pursuit of which could encompass a number of months."
The De Leon Springs, FL-based Sparton develops and produces electronic systems for undersea warfare for the Navy and allied military forces.