Acquisition

RNS Number : 5809Z

BAE SYSTEMS PLC

11 December 2014

 



BAE Systems - proposed acquisition of Eclipse Electronic Systems, Inc.

11 December 2014

BAE Systems announces it has entered into an agreement with Esterline Corporation for the proposed acquisition of its wholly-owned subsidiary, Eclipse Electronic Systems, Inc., for cash consideration of approximately $28m, subject to closing adjustments.

The Texas-based Eclipse Electronic Systems business employs approximately 90 people and provides highly-advanced intelligence, surveillance and reconnaissance (ISR) products and services to the US defence and intelligence community.  The proposed acquisition of the Eclipse Electronic Systems operations will enhance BAE Systems' ISR offerings to existing customers, and broaden the potential customer base.

Tom Arseneault, Chief Operating Officer for BAE Systems, Inc. said: "This proposed acquisition fully aligns with BAE Systems' strategy to invest in advanced technologies critical to US national security and defence needs.  By combining Eclipse Electronic Systems' products with BAE Systems' existing ISR capabilities, we will be able to support our customers' requirements for reliable, smaller, lighter and more power-efficient sensor solutions to capture and harness actionable intelligence."

The proposed acquisition is conditional upon receiving certain regulatory approvals.  It is anticipated the proposed acquisition will be completed during the first quarter of 2015.

Issued by:

BAE Systems plc

London

 

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