L3 Technologies, a global provider of cloud computing and smart energy services, said Tuesday it had acquired AirSpace Technologies, an online provider of energy-efficient air and water service.
The deal, which is expected to close in the third quarter, is expected be worth $6 billion.
L3 said it will partner with AirSpace to offer “high-speed and reliable service.”
The transaction, which comes at a time when U.S. consumers are increasingly turning to airwaves for power, is part of a broader effort by L3 to focus on the Internet of Things, a growing part of the economy.
L5, a company with a broader portfolio of services, is also working to expand into Internet-connected products.
In its most recent earnings report, L3 reported $4.7 billion in revenue and $1.7 trillion in cash, compared with $4 billion and $2.2 trillion in revenue in the fourth quarter.
“The Internet of things is going to drive the future of our company,” Chief Executive Officer Greg Poblete said in a statement.
“L3 is on a mission to deliver the best services and the best solutions to our customers in an environment where it’s possible to get more of our products in more devices and devices at lower cost.”
The acquisition follows a $8.5 billion acquisition of AirSpace earlier this year.
L4 Technologies, which makes wireless equipment and services for mobile devices, has also been buying smaller outfits that offer airwave-enabled energy services.
AirSpace was founded in 2015 by two former Air Force scientists, who had been pursuing the idea of a wireless network for large-scale wireless communications.
It quickly raised more than $3 billion in funding from investors including General Electric, Goldman Sachs, and Andreessen Horowitz.
In March, L4 raised $10 million from investors and announced plans to acquire AirSpace for $2 billion.
“Today’s announcement will help accelerate the pace of our mission to make smart power available to the public, and to transform the way we do business,” Pobente said in the statement.
The AirSpace deal follows L3’s purchase of a large wireless network called Aereo for $5 billion last year.
The company is planning to expand the service into more devices, including cars, by the end of 2019.
Airspace is also partnering with other large companies, including Comcast and the U.K.’s BT Group.