BAE Sys­tems to ac­quire Eclipse Elec­tronic Sys­tems

SP's MAI - - CORPORATE NEWS -

BAE Sys­tems an­nounced that 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 $28 mil­lion.

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.

“This pro­posed ac­qui­si­tion fully aligns with BAE Sys­tems’ strat­egy to invest in ad­vanced tech­nolo­gies crit­i­cal to US na­tional se­cu­rity and de­fence needs,” said Tom Arse­neault, Chief Op­er­at­ing Of­fi­cer at BAE Sys­tems Inc. “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.

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