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BAE SYSTEMS North America Completes Acquisition Of STI Government Systems

10 May 2004

BAE Systems North America today completed its acquisition of Honolulu-based STI Government Systems following receipt of regulatory approval. The $27 million cash transaction complements BAE Systems technology in photonics, information technologies and systems integration.

STI Government Systems is a superb strategic fit with BAE Systems. Their core competencies - particularly advanced hyperspectral imaging and sensor fusion - enhance our ability to provide our customers with more innovative solutions to meet demanding defence and security requirements, said Jeffrey Markel, president, BAE Systems Communication, Navigation, Identification, and Reconnaissance (CNIR).

STI Government Systems employs 125 people.

The 12-year-old business unit will be called BAE Systems Spectral Solutions and operate within the companys CNIR business unit. CNIR is headquartered in Wayne, New Jersey.

The acquisition of STI Government Systems particularly complements our current technology of reconnaissance products while allowing BAE Systems to further expand capabilities in the area of situational awareness, added Markel.

About BAE SYSTEMS

BAE Systems is an international company engaged in the development, delivery, and support of advanced defence and aerospace systems in the air, on land, at sea, and in space. The company designs, manufactures, and supports military aircraft, surface ships, submarines, radar, avionics, communications, electronics, and guided weapon systems. It is a pioneer in technology with a heritage stretching back hundreds of years. It is at the forefront of innovation, working to develop the next generation of intelligent defence systems.

BAE Systems has major operations across five continents and customers in some 130 countries. The company employs more than 90,000 people and generates annual sales of more than 12 billion through its wholly owned and joint-venture operations.

BAE Systems North America is a high-technology U.S. company employing more than 25,000 people who live and work in some 30 states, the District of Columbia, and the United Kingdom. The company is dedicated to solving its customers needs with highly innovative and leading edge solutions across the defence electronics, systems, information technology, and services arenas.

BAE Systems Communication, Navigation, Identification, and Reconnaissance, headquartered in Wayne, N.J., is a team of more than 2,200 professionals unifying the force with technically superior solutions that transform the armed forces communication, situational awareness, mobility, and mission effectiveness.

BAE Systems, innovating for a safer world.



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