Public Offering and Merger With TRW
The company underwent a successful public offering of its common stock underwitten by Hambrecht & Quist in the mid 1970s with shares thereafter trading on the NASDAQ exchange. In 1978 a merger was consummated with TRW Inc. to merge ESL with TRW, the latter being a large defense contractor in the USA. In 2001, TRW sold the real estate of the ESL campus in Sunnyvale, CA. Approximately half of the operation moved to San Jose, California, and the other half set up offices at the former McClellan Air Force Base in Sacramento, California.
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