BAE SYSTEMS AGREES TO SELL SURVEILLANCE AND ATTACK BUSINESS
19 Dec 2007 | Ref. 398/2007
ROCKVILLE, Maryland — BAE Systems has today signed a definitive agreement to sell its Surveillance and Attack business in Lansdale, Pennsylvania, to Sensor and Antenna Systems, Lansdale, Inc., a subsidiary of Cobham Defence Electronic Systems Corporation.
The approximately 400 BAE Systems employees in Lansdale provide broadband high-power transmitter and radio frequency front-end systems for military aircraft. The equipment is used for communications and radar jamming, as well as radar warning.
The $240 million cash transaction is expected to close in the first quarter of 2008, following receipt of regulatory approvals.
“This sale is consistent with BAE Systems’ strategy to expand as a developer and integrator of systems and de-emphasize its role as a subsystem provider,” said Mike Heffron, president of BAE Systems’ Electronics & Integrated Solutions operating group, which includes the Lansdale business.
About BAE Systems
BAE Systems is the premier global defence and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions and customer support services. With 96,000 employees worldwide, BAE Systems' sales exceeded £15 billion (US $27 billion) in 2006*.
*On a pro forma basis, assuming BAE Systems had owned Armor Holdings Inc for the whole of 2006
For more information, contact:
John Neilson, BAE Systems
Tel: + 44 (0) 1252 384795 Mob: + 44 (0)7802 337704
Greg Caires, BAE Systems
Tel: + 1 703 907 8261 Mob: + 1 703 967 8630
Joan Ferguson, BAE Systems
Tel: + 1 603 885 2816 Mobile: + 1 603 315 1537
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