BAE Systems to acquire Eclipse Electronic Systems
BAE Systems has entered into an agreement with Esterline Corporation for the proposed acquisition of its wholly-owned subsidiary, Eclipse Electronic Systems. The company announced the news on 11 December.
In acquiring Eclipse Electronic Systems, BAE Systems would enhance its intelligence, surveillance and reconnaissance (ISR) offerings and broaden its existing customer base.
Texas-based Eclipse Electronic Systems designs, manufactures, supports and sustains high performance embedded digital receiver commercial products (COTS) and related signal processing components. Its customers include the US defence and intelligence community.
Tom Arseneault, chief operating officer, 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 - for cash consideration of approximately $28 million - is conditional upon receiving certain regulatory approvals. It is anticipated the proposed acquisition will be completed during the first quarter of 2015.
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